House Prices Up 5% across UK

andrewf75

We must be the only country in the world where the media presents house price rises as a good thing even at a time when wages are falling!

Utterly bonkers.

marathonic

Loughton_Monkey wrote: »

Not sure, but I think Republic of Ireland had similar characteristics.

The big thing I noticed about the Republic is that the proportion of the population that were employed, both directly and indirectly, through the construction industry was HUGE. This includes the tradesmen themselves as well as the accountants, solicitors and other professionals whose clients were primarily in the construction industry.

With everyone employed in the industry, all the talk was of 'this nice house' and 'that nice house' and everyone had it in their heads that they MUST own, at whatever price.

There isn't really much of a switchers market in the Republic of Ireland at the moment and, for those who aren't on tracker mortgages, the best interest rates on mortgages at the moment is 4.16% - and that's reserved for those on an LTV of less than 50%.

People are being crippled at the moment with these high rates but I believe there is a new entrant planning to enter the market later this year (will likely be delayed to next year). A lot of people are hopeful that this will introduce competition and drive down rates. Personally, I see it having minimal impact unless they lend on a very large scale - which is unlikely.

The Irish banks will not be reducing rates until a lot of their tracker mortgage book has been dealt with, however long that may take.

Percy1983

Funny when I think my mortgage is actually with the bank of ireland.

noodle_doodle

Scottish house prices to leap 25% in 5 years! Huzzah! Except I reckon I've still got another upward move to do, so not that great really. Still, it'll annoy holy swear-words out of the HoosePriceCrash mob.

http://www.edinburghnews.scotsman.com/news/scottish-house-prices-to-leap-25-in-five-years-1-3119578

HAMISH_MCTAVISH

noodle_doodle wrote: »

Still, it'll annoy holy swear-words out of the HoosePriceCrash mob.

Which is always good for a McGiggle.

mystic_trev

HAMISH_MCTAVISH wrote: »

Which is always good for a McGiggle.

I took a little peek over there this morning. They're all finally getting the message. This from your good friend, and uber bear Eric Pebble.

I have been here in HPC for 10 years now..... And, I can't deny it, I am stupefied by all that has gone on under Niueue Labbia - and now this stupid thick government. am beyond caring now. I am now so disillusioned and cynical - that I just couldn't give a sh*t anymore.

The UK is a cesspit - ruled by utter scum.

:rotfl:

System

Maybe he'll pick up a cheap place in Syria.

Loughton_Monkey

Joeskeppi wrote: »

Maybe he'll pick up a cheap place in Syria.

Not so sure

Nice little property here:

http://www.aram-sy.com/old-houses-for-sale-syria-d(1).html

Location: Aljesr Al-Abiyad
Details: 500 m² + 3 bedrooms + 2 bathrooms + dining room + living room + guest room
Price: 110 million Syrian pounds [About £600,000]






But personally I'd probably want 4 bed for that.

If Syria offers Help to Buy, it probably just gets in at £600K.

Graham will be along in a minute advising not to buy because it's a hubble bubble.

IveSeenTheLight

Loughton_Monkey wrote: »

Not so sure

Nice little property here:

http://www.aram-sy.com/old-houses-for-sale-syria-d(1).html

Location: Aljesr Al-Abiyad
Details: 500 m² + 3 bedrooms + 2 bathrooms + dining room + living room + guest room
Price: 110 million Syrian pounds [About £600,000]






But personally I'd probably want 4 bed for that.

If Syria offers Help to Buy, it probably just gets in at £600K.

Graham will be along in a minute advising not to buy because it's a hubble bubble.

I was going to say that he'll simply predict that the prices are overvalued because of the conflict.

Makes you consider if compared, are UK prices over inflated?

P.S. I notice the thanks button has gone.
How refreshing and will possibly ease some peoples frustrations a little.
That said, I wonder what will happen to re-wired. Will they dissappear forever or finally find their [strike]sockie[/strike] voice

Loughton_Monkey

IveSeenTheLight wrote: »

I was going to say that he'll simply predict that the prices are overvalued because of the conflict.

Makes you consider if compared, are UK prices over inflated?

P.S. I notice the thanks button has gone.
How refreshing and will possibly ease some peoples frustrations a little.
That said, I wonder what will happen to re-wired. Will they dissappear forever or finally find their [strike]sockie[/strike] voice

Price:Income ration, Damascus = 30.73
London is half that, at 15.62

You can look things up here, and discover that even London is "cheap" compared to a lot of the world.

I think the only difference is that they don't moan about it. They just get in there and fill their boots.

http://www.numbeo.com/property-investment/city_result.jsp?country=Syria&city=Damascus