MSE News: House prices up 4.6% over past year, Halifax says

I_have_spoken

Not in Scotland (on average), going backwards due to the risk of independence.

calicocat

I hope so, I have just paid 10K over the valuation for mine as so little around to chose from and lots of people after the few that were.

HAMISH_MCTAVISH

I_have_spoken wrote: »

Not in Scotland (on average), going backwards due to the risk of independence.

Yes, still performing poorly in some of Scotland, although fortunately other places such as Aberdeen are soaring.

Never mind though, the referendum is doomed to failure and will be out of the way soon enough, then onwards and upwards.

HAMISH_MCTAVISH

calicocat wrote: »

I hope so, I have just paid 10K over the valuation for mine as so little around to chose from and lots of people after the few that were.

That's how prices rise.

Not to worry, if supply is that tight in your area the valuations and sale prices will be much higher still by this time next year.

ruggedtoast

The inter-generational wealth transfer scam train rumbles on, collecting more victims.

The amount of debt which is being loaded onto young people's shoulders is frankly disgusting, and even more mendacious when you consider that from birth they are being inculcated into the mindset that debt is fine, largely to benefit people who don't have any.

I wonder what will happen when at some point they all realise how completely stitched up they have been, and they have the option of simply refusing to pay.

HAMISH_MCTAVISH

ruggedtoast wrote: »

they have the option of simply refusing to pay.

They don't have that option if they ever want to own a house. :cool:

Pincher

ruggedtoast wrote: »

I wonder what will happen when at some point they all realise how completely stitched up they have been, and they have the option of simply refusing to pay.

Slaves, indentured labour, serfs: how did they get there?

People are marginalised, re-possessed, dispossessed, exploited continuously. Today it's zero hour contracts, tomorrow it's waiting in a supermarket car park for people driving round asking for cheap labour. Come with me for a day, I'll give you £20 plus lunch.

The bandwagon rolls on, sucking in more and more deluded property "owners" who think they own a house, when they only own 5%. Those falling behind with their mortgages suddenly find themselves amongst the underclass, too.
And then Spartacus comes along, unite the disillusioned and start a revolution.

In China, the peasants revolt every few hundred years, because the "system" becomes too abusive, and they are starving to death. Just like the French Revolution. The trick is not to starve the underprivileged too much.

HAMISH_MCTAVISH

So back to house prices.....

JustAnotherSaver

HAMISH_MCTAVISH wrote: »

And as more mortgages are available, more housing gets built, and more existing housing comes onto the market as prices rise and reluctant landlords can sell, meaning more people can buy houses.

This is absolutely brilliant news for the housing market, the wider economy, and society as a whole.

I must be missing something then.

The way i see it is this....

House prices rising means that i can't afford the type of house we're looking for as it'll be in the NEXT price bracket, which means i can't move.
Or actually i can ... but into a house that i don't want & therefore be miserable & constantly look to sell which has its own stresses (we're looking to buy a forever home & almost had one last week).
Or i can move further afield, which by the time i finish work & get home it'll be time for bed & i'd end up taking this out on the wife (even though obviously i wouldn't want to) & then we'd both be miserable.

So, looking to secure our first property (& ideally only!), i fail to see any positive in house prices rising.

harrys_dad

Yet another short term asset bubble being pumped up to secure an election victory by an irresponsible chancellor. Still as far as he is concerned if it doesn't go pop again until after the election why should he care. The economics of the madhouse and short term political gain.