MSE News: UK house prices reach all-time high, Nationwide says

wymondham

m0ns00n wrote: »

Evidently my flat must have missed the memo. Paid £103k for it in 2008 - it's now on the market with home report valuing it at £77k...

not in London?

m0ns00n

wymondham wrote: »

not in London?

Nope. Glasgow, which (currently) is still part of the UK. I do know that London and the surrounding areas are all that matter though!

Pincher

A house I have in North London is now £720k, according to Zoopla, and was bought for £27k back in 1977, which is roughly 9% compound, over 37 years.


It was valued at £170k in 1997.


So, 1977 to 1997, over 20 years, it grew by 170 / 27 = 6.296 times. This is 9.6% compound over 20 years.


1997 to 2014, over 17 years, it grew by 720 / 170 = 4.235 times. This is 8.86% compound over 17 years.


Talk about consistency!


Will it really be worth £3million in 17 years, when I retire?
£720k x 4.235 = £3,049k.


They need to increase the inheritance threshold to at least £4million, otherwise I will have to keep a harem of loose women and run several Supercars to use it up before I hop it.

posh*spice

CLAPTON wrote: »

well we are used to things reaching at time 'peak' prices

our government actually targets inflation as a virtuous thing, so it's common for ordinary goods and services to reach a new all peak most months

so not really surprising that house price are at a new all peak

just remember you have heard it first here :
there will be many many more all time peak prices over the coming months and years

Yup Dow peaked at 17,000

posh*spice

info_maniac wrote: »

Looks like, house prices are not going to drop now, even if the 0.25% interest rate hike comes after 8-10 months.

Do you think the BOE should raise interest rates NOW - asset bubbles everywhere!

CLAPTON

posh*spice wrote: »

Do you think the BOE should raise interest rates NOW - asset bubbles everywhere!

is (or should it be) the BoE primary task to stop asset bubbles or is it (should it be) concerned with financial stability, economic growth unemployment levels etc?

Graham_Devon

CLAPTON wrote: »

is (or should it be) the BoE primary task to stop asset bubbles or is it (should it be) concerned with financial stability, economic growth unemployment levels etc?

Well, one would think it's quite difficult to have financial stability and solid economic growth based on a background of asset bubbles.

IronWolf

And if you exclude London?
And if you account for inflation?

wotsthat

IronWolf wrote: »

And if you exclude London?
And if you account for inflation?

The frothers would then start saying things like..

'you didn't want to exclude London when average prices were falling' and ...

'no point inflation adjusting - who's been getting inflationary pay rises'

CLAPTON

Graham_Devon wrote: »

Well, one would think it's quite difficult to have financial stability and solid economic growth based on a background of asset bubbles.

why can't we build more cars, export more high tech equipment, enjoy more coffee shops, greet more tourists because the price of houses have gone up in Devon?