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Debate House Prices
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House prices hit all time record

Graham_Devon
Posts: 58,560 Forumite


According to LSL property services house prices are now at an all time record with an average of £232,969. 11.5x the average wage.
They say that the government must urgently address supply if they are serious about boosting home ownership levels.
http://www.telegraph.co.uk/finance/personalfinance/houseprices/10234330/House-prices-at-new-record-aided-by-state-measures.html
They say that the government must urgently address supply if they are serious about boosting home ownership levels.
On the radio yesterday they were talking about the scenario whereby the government could now be guaranteeing the money it is lending through funding for lending. So not only has the government become the lender, but it's also become the guarantor. Genius!Prices rose 0.3pc on the previous month to an average £232,969, said LSL Property Services and economics consultancy Acadametrics. This set a new record level for the third time in 2013 and beat the previous peak of February 2008 by £1,140, although the numbers were not adjusted for the impact of inflation.
On an annual basis, prices rose 2.6pc, or an average £5,796, compared to a year earlier, the report showed. That meant they almost kept pace with headline inflation in the UK, or fell just slightly in “real” terms.
However, London prices were up by a much steeper 7.1pc.
Activity and, as a result, prices in the housing market are picking up as mortgage lending conditions improve, due to a large degree to the state-backed Funding for Lending Scheme to encourage banks to lend. The Government’s Help To Buy scheme, focused specifically on the housing market, is also supporting interest.
“Both schemes have helped banks boost first-time buyer lending by providing them with credit to offer more loans to new buyers and reduce rates on house purchase mortgages,” said LSL.
http://www.telegraph.co.uk/finance/personalfinance/houseprices/10234330/House-prices-at-new-record-aided-by-state-measures.html
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Comments
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Graham_Devon wrote: »According to LSL property services house prices are now at an all time record with an average of £232,969. 11.5x the average wage.
They say that the government must urgently address supply if they are serious about boosting home ownership levels.
On the radio yesterday they were talking about the scenario whereby the government could now be guaranteeing the money it is lending through funding for lending. So not only has the government become the lender, but it's also become the guarantor. Genius!
http://www.telegraph.co.uk/finance/personalfinance/houseprices/10234330/House-prices-at-new-record-aided-by-state-measures.html
Essentially what's been created is a new type of social housing, but instead of discounted rent, its discounted ownership
Interesting, I wonder how this will fare at house owner dinner parties0 -
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I'm not sure it will
'You had HELP to buy? Not on your own 2 feet? Thats shambolic, even the renter underclass manage that on their own'
you clearly don't know the young middle classes very well
why ever would some-one who is happy to receive financial help from mum and dad be embarrassed at receiving some from you?0 -
CLAPTOim62793870 wrote:you clearly don't know the young middle classes very well
why ever would some-one who is happy to receive financial help from mum and dad be embarrassed at receiving some from you?
OK maybe, but help from mum and dad indicates wealthy parents, but state help means no wealthy parents, and can't afford a house by yourself
Not sure why im remotely interested in made up dinner parties btw0 -
Graham_Devon wrote: »According to LSL property services house prices are now at an all time record with an average of £232,969.
Most or all of the house price indices will be in record territory shortly.
Has anyone seen if brit has updated his/her signature accordingly?
:rotfl:0 -
Has anyone seen if brit has updated his/her signature accordingly?
:rotfl:
Nope.
But I've saved him the effort....:D“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
However, London prices were up by a much steeper 7.1pc.
Delve in the stats and it varies area to area. Prices are still falling in Newham.0 -
Thrugelmir wrote: »Delve in the stats and it varies area to area. Prices are still falling in Newham.
Oh dear... Poor old Thrug0
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