2012 South East Housing Boom?

Guy_Montag

keeperbear wrote: »

>Much to the dismay of those who have sold up hoping for a crash, I think >the Olympics, the economy and a housing shortage means there is still a fair >bit of upside before any crash.

I completely agree, but would also add on the impact of the new Terminal 5 at Heathrow. If anyone lives near Heathrow, it is amazing to see the new building work going on in West London. New warehouses, office blocks, hotels and apartments. The whole area is being regenerated.

Whilst property may fall outside of the south east, I think London prices still have some catching up to do. Six months ago a 1 bedroom flat in Manchester was about the same price as my flat in West London. The price of my flat has increased by 30k since January, and there is nothing available to rent.

To be honest to me that suggests property in Manchester is overpriced than that in London underpriced.

Having said that London is a major capital, & should be judged against New York, Paris, Berlin, Tokyo etc. Manchester is a regional capital & should be judged against Newcastle, Edinburgh, Birmingham. Very few people would be trying to decide whether to live in Manchester or New York, though they might have to choose between London & New York.

Unknown1234_2

wlfc1 wrote: »

I agree, I think housing is still very affordable, there is a shortage of housing in the South East and you only need to look at this forum to see just why people prefer to own their homes as against renting.

So todays prices could well you look cheap by 2012

Totally agree with that, i see a boom in the south east around the olympics. Although house prices are still rising in Berkshire now.

Jonbvn

I have to agree that there is a complete disconnect between property prices in London/SE and the rest of the country. I do remember reading an article on this in the torygraph.

After all, I don't think I have any Oligarch's or Private Equity manager's living near me!

pricedout_1

porridge wrote: »

Contrary to the doom and gloom constantly spouted on here, are we set for another housing boom?.

Could the Olympics trigger another housing boom?, also interest rates look like they will be peaking pretty soon and with rates returning below 5% could we see house prices double from todays prices before 2012?

Look what happened in Barcelona. Loads of people turned up for a few weeks had ball and then b*ggerd off as quickly as they arrived. They are still paying for those Olympics!

Who says rates are returning to 5% or below?

meanmachine_2

porridge wrote: »

Contrary to the doom and gloom constantly spouted on here, are we set for another housing boom?.

Could the Olympics trigger another housing boom?, also interest rates look like they will be peaking pretty soon and with rates returning below 5% could we see house prices double from todays prices before 2012?

Oh, I hope so.

Wouldn't that be brilliant!

Yippee!

Property at 25 times the average salary.

Kids staying with parents till they're 90!!

Moneysavers rejoice!

And no, interest rates aren't coming down any time before 2009. Tough luck pal.

EDIT: Just realised. None of us need work ever again. We just buy houses. Yippeeee! Go on - porridge. You go first. You quit your job then I'll follow.

Or maybe not.

nelly_2

porridge wrote: »

Always makes me laugh when people say housing is out of reach of Police and teachers, have you seen what they earn? .

Yes I'm married to one shes on 30 grand before tax and !!!!!!

average house price is 200 grand thats 6.6 times her pre-tax salary

You say 'always makes you laugh'..........hows that funny exactly?

budget_counsellor_shaz

Hi,

I've read through the coments I'm not sure that I agree that the interest rates have peeked yet.... they reached above 10% a while back!

A lady I'm helping tomorrow already is in the situation of negative equity. We must be careful and not stretch ourselves too thin. There is no guarentee that the house prices will rise or that they will fall...... one thing we need to be sure of is that we can afford the mortgage we have and even if the rate rises we can still afford to pay it.

Maybe the olympics will have a huge impact and all the house prices will rise even higher.......There are a lot of new builds at the moment all over the country and lots of 4 sale signs up..... but who knows time will tell.........

Shaz;)

Running_Horse

I don't see how a three week jamboree can raise house prices, apart from all the rail infrastructure which has probably already been factored into current prices. Anyone in Stratford with any sense will rent out their house for the games and get away from the chaos.

btloptingout

porridge wrote: »

Just because house prices have risen, means families are able to help each other get on the property ladder.

Exactly!

P.S. It's a great job my house burnt to the ground recently as I needed to re-decorate it.

porridge

nelly wrote: »

Yes I'm married to one shes on 30 grand before tax and !!!!!!

average house price is 200 grand thats 6.6 times her pre-tax salary

You say 'always makes you laugh'..........hows that funny exactly?

So would you say most homes are bought on one salary?......No, so add her income to yours and i'm sure you will find that you can afford a home, possibly might even have enough left over for BTL.