LAND REGISTRY data finally shows FALLS in House Prices

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I would guess there's still something seriously broken with the LR stats (this is the second time the Beeb has tried to publish them for this quarter).

Not that I wouldn't love to see 22% falls in a quarter in Yorkshire - but I find it totally unfeasible.

brasso

epz wrote: »

hate to tell you but national insurance i just tax, it gets spent the same as tax on roads, railways, pay rises for mps and current peoples pensions.

Now in the future people need to rear enough to live, save for their own private penson if they have any sence and pay enough tax to pay your pension. ''

Problem is if they are going to be £20k+ in debt from educating themselves and need to borrow 7-10 times their salary to get a house and eat how much is there going to be left to pay in tax.

Hate to say it but i would expect means testing for the state pension once the boomers start retiring, i mean if they have 1/2 a million in equity they can sodding sell up and either rent it back etc.

theres a social covanant between the youth and elderly, you look after me when young and we will look after you when old. i would say the covanant is well and truely broken with charging for uni and unatainable housing, ask todays 20 somethings how they fancy financing the btl generations retirement while they will work till 75 and have to live in tiny houses.

Don't patronise me.

I'm well aware that money we pay in taxes isn't ring-fenced. As I said in the earlier post "National Insurance contributions build up entitlement to benefits... including the State Pension". If I pay my my NI for 45-50 years, as it looks like I'll be doing, then I'm earning that entitlement.

That said, anyone who thinks that all their problems will be solved by the £80 a week or so that the state pension amounts to, is mad! I've been paying whatever I can into other savings and a private pension for the last 5 years or so to ensure that I'm not dependent on you or others.

You need to grow out of this "I'm a victim" boomer nonsense. People between 40 and 60 represent many different wealth profiles, just as people in their 20s and 30s do.

I'm 50. We took out our mortgage in 2001/2 when we were convinced we'd missed the property boat. We have a big mortgage (£120K) and it costs me £1500 a month. I'm not in any elevated position. I know many people my age who don't own property. I also know plenty of people who have built up equity and are using it to fund their own children through education and into the property market. I know this because I recently went to a school reunion, and was able to talk first hand to a lot of people exactly my age. I don't think I met a single person who was happy about the situation, yet you paint us as some sort of demonic cult, dancing on the graves of youthful ambition.

I campaigned long and hard against university tuition fees, so don't you dare accuse me of being somehow complicit in this policy. It was deeply unpopular among all age levels.

No one consults me on economic policy, and I have had no realistic chance to influence it. As for New Labour, which you seem to blame for all your ills when you want to give 'the boomers' a break, they were elected by a cross section of the electorate including, no doubt, a lot of people in their late teens and twenties.

Here's some news for you. When I was growing up in London in the 70s and 80s, the thought of owning my own house was like the thought of going to Mars. Don't kid yourself that this is the first property boom in history. I spent years effectively priced out of the market, and this was in the 80s and 90s. I can identify with your frustrations because I felt something similar once. But I eventually realised that my situation was not someone else's fault. It was in my power to change my life. Every single generation has its cross to bear. Growing up in the 70s and 80s with inflation up to 24%, massive unemployment, constant strikes and IRA bombs, wasn't all great fun, you know. Only 1 in 8 of my generation went to university.

In the end, by my late 30s, I was beginning to realise I'd better do something about this, and retrained in IT. Since then I've not looked back. My predicament wasn't someone else's fault, and the answer had been in my own hands all along. You will eventually go through the same process. Try and do it younger than I was. It's pointless getting resentful and negative about it because it just clouds the truth and makes you apathetic.

Time you ducked out of the blame game, and started to plan your way out of your predicament, whatever it happens to be.

Woby_Tide

densol wrote: »

I don't believe those figures.

In my area it shows Detached up 12.3% on last year. I was selling my house last year ( but then bought ex partner out ) This suggests my house has gone up £50k since last year - no way! I would struggle to say it had gone up by more than 10k and that woudl be pushing it.

The trouble is certain premuim areas in my area have gone up and they disortthe figures

I don't think the data is meant to tell you that it has happened to every house, it's based on houses sold in that period

brasso

Woby_Tide wrote: »

I don't think the data is meant to tell you that it has happened to every house, it's based on houses sold in that period

You're right, of course. A few sales of very expensive houses can skew the data. Equally, a new development of lower-cost starter homes coming on the market can skew them in the other direction.

Always take these figures with a pinch of salt, whether bullish or bearish.

Woby_Tide

I'm waiting for Propertysnake to start issue press releases on their monthly figures, that'll really stir up a few threads "Look, propertysnake says prices fell 5% across the whole country, it's a crash" .......

Unknown1234_2

Bracknell Forest
Average Cost: £244,753
Detached: £385,461
Semi-detached: £235,057
Terraced: £198,197
Flat: £163,816


Change in last quarter: 3%

Change in last year: 2.2%

Sales: 607

StevieJ

phlash wrote: »

The most accurate measure of house prices, the land registry, measures its house prices by the SOLD prices. Their data is therefore often six months delayed. These latest figures are telling us what happened 3-6 months ago! Who knows what is going on now, hold on tight! (Remember there have been two more rate rises since then, and another one at least to come)

http://news.bbc.co.uk/1/shared/spl/hi/in_depth/uk_house_prices/html/fy.stm

Check your area!

Mine is down 2.9% in ONE QUARTER! Oh dear.

A correction may well have already started.

Oh dear, it would help if these figures actually added up.

My area last qtr:

Total -3.1

Det -1.9 (119)
Flat +15.3 (59)
Semi -2.2 (200)
Ter -0.8 (142)
( ) No. sold

Not one area performed as badly as the total, any ideas?

nollag2006

brasso wrote: »

It's pointless getting resentful and negative about it because it just clouds the truth and makes you apathetic.

Time you ducked out of the blame game, and started to plan your way out of your predicament, whatever it happens to be.

Post of the Year Brasso !!!!

:T

All these House Price Crash brigade (who have been around for the past 10 years with the same mantra, as the market pulls away from them) are getting tiresome.

Wake up people. You’ve been predicting for a crash for years, whining about how unfair life is, rather than actually doing something about your situation, and actually buying a house in a rising market.

phlash

nollag2006 wrote: »

Post of the Year Brasso !!!!

:T

All these House Price Crash brigade (who have been around for the past 10 years with the same mantra, as the market pulls away from them) are getting tiresome.

Wake up people. You’ve been predicting for a crash for years, whining about how unfair life is, rather than actually doing something about your situation, and actually buying a house in a rising market.

You're right, I should have magically been able to get together a deposit through university, and then bought a house making sure I could afford the repayments with my student loan!

olly300

phlash wrote: »

You're right, I should have magically been able to get together a deposit through university, and then bought a house making sure I could afford the repayments with my student loan!

You shouldn't have gone to university you should have worked your way up in life.

In my day people didn't go to university to get jobs they worked hard and studied in their spare time.

BTW I know if you haven't got a degree now and are of a certain age many employers will not touch you. Maybe phlash it's time for you to emigrate.......