House Prices Up 5% across UK

IveSeenTheLight

ruggedtoast wrote: »

First time buyers taking on more debt than ever to own small houses.

Rejoice.

Have prices passed the peak (on average) from 2007?
I thought we had yet to see a full nominal recovery yet.

THE_MASKED_TURNIP

We are seeing wholesale prices increases of at least 6.25% across the local areas. The vibrancy of the market is almost tangible now.

chucknorris

IveSeenTheLight wrote: »

Have prices passed the peak (on average) from 2007?
I thought we had yet to see a full nominal recovery yet.

Apparently not in all areas, one notable exception is where Bruce Banner lives, where both house prices and rents remain low, but this may be something to do with a radiation leakage in that area during a scientific experiment (or he could just be talking !!!!!!!! of course).

Loughton_Monkey

IveSeenTheLight wrote: »

Have prices passed the peak (on average) from 2007?
I thought we had yet to see a full nominal recovery yet.

Very easy to calculate from Nationwide Data.

Outer SE: Yes
London: Yes (by 9%)
Everywhere else: No

Northern Ireland are still less than 50% the peak values. But everywhere else (ex London, Outer SE) hover around the 90% level.

chucknorris

Loughton_Monkey wrote: »

Very easy to calculate from Nationwide Data.

Outer SE: Yes
London: Yes (by 9%)
Everywhere else: No

Northern Ireland are still less than 50% the peak values. But everywhere else (ex London, Outer SE) hover around the 90% level.

Doesn't sound great, but in the context of where we were in 2008 I think it is a good place to be, with good prospects for further recovery. Except for NI of course, that doesn't look good at all, maybe they should have stuck to gin and tonic rather than guinness.

IveSeenTheLight

Loughton_Monkey wrote: »

Very easy to calculate from Nationwide Data.

Outer SE: Yes
London: Yes (by 9%)
Everywhere else: No

Northern Ireland are still less than 50% the peak values. But everywhere else (ex London, Outer SE) hover around the 90% level.

Not specific enough Loughton.
I know of areas outwith the SE and London which have surpassed the previous peak.

That does not deflect the general incorrect statement that "First time buyers taking on more debt than ever to own small houses." when on average, prices are still lower than nominal peak.

Loughton_Monkey

IveSeenTheLight wrote: »

Not specific enough Loughton.
I know of areas outwith the SE and London which have surpassed the previous peak.

......

Then complain to Nationwide, not me.....

We all know various pockets, whether they be counties, towns, districts, or even streets which buck the trend.

Same as when food or fruit has gone up 5%. Those luscious just-ripe cherries specially flown in from South Africa will have gone up by 10% while the over-ripe mis-shapen soggy ones will be at the same price.

All I know is that the houses next door, and opposite me both sold within days. Removal van over the road is there while I write.

floridaman

So just been down my local estate agent and they said they have been run off their feet with loads of people making bookings to view houses. What's going to happen to prices now? Looks like they are going to rocket in price.

Percy1983

Manchester is still 25% down from peak + I can't see a 5% rise recently.

marathonic

chucknorris wrote: »

Except for NI of course, that doesn't look good at all, maybe they should have stuck to gin and tonic rather than guinness.

Northern Ireland looks one of the most affordable places to buy at the moment and appears to be bottoming out.

I do, however, agree that it doesn't look good for people who bought between 2006 and 2011.