House Prices Up Up Up.....The Express.....

Sibley

House prices soar by £21,000

Buyers' confidence is a contributing factor to soaring house prices
The cost of an average family home has leapt by almost 10 per cent from £252,000 to £273,000, official figures showed yesterday.

In March alone prices rose by £4,000 and now that uncertainty created by the General Election has passed they could go up even faster.

According to the Office for National Statistics, the 9.6 nationwide rise was powered by a

14.6 per cent increase in Scotland.

This was followed by an 11.4 per cent rise in the East, and 11.2 per cent increases in the South-east and London.

Jonathan Hopper, managing director of buying agents Garrington Property Finders, said: “Demand is even stronger now the electoral uncertainty is past, and even though supply has improved dramatically there is more than enough momentum to keep driving prices higher.”

Alex Gosling, chief of online estate agents House Simple, said: “Buyer interest has picked up noticeably in the past week.”

Buyer confidence has been boosted by lower stamp duty bills, rising employment and pay increases as well as falling inflation.

Excluding London and the South-east, UK house prices increased by 8.1 per cent in the 12 months to March 2015 – an unusually high figure.

Several regions now have record prices, including the East, East Midlands, West Midlands, South-east and the South-west.

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Demand is even stronger now the electoral uncertainty is past, and even though supply has improved dramatically there is more than enough momentum to keep driving prices higher.
Jonathan Hopper, managing director of Garrington Property Finders
Experts including Miles Shipside of Rightmove and Ray Boulger of brokers John Charcol have forecast a four per cent – £11,000 – rise this year.

But Stephen Smith, a director at the Legal & General Mortgage Club, sounded a note of caution, warning that soaring prices lock many people out of the property market.

He said: “Ideally, prices would grow at or around the same level as inflation so that prices don’t rise faster than people can save a deposit.

“The key to achieving this lies in building more houses so supply can keep up with demand.

"The new Government needs to address the insufficient level of housebuilding by building 250,000 extra houses a year.”

mayonnaise

Good. :beer:

GunJack

must be nice to be in an area with such growth... nowt like that round this way..

Carl31

The express...lol

CLAPTON

absolutely nothing to do with an extra 600,000 arrivals this year (some people have left of course but the housing match probably isn't perfect)

as so many people say : price has nothing to do with demand.

padington

CLAPTON wrote: »

absolutely nothing to do with an extra 600,000 arrivals this year (some people have left of course but the housing match probably isn't perfect)

as so many people say : price has nothing to do with demand.

... and the extra pairs of hands have nothing to do with our better economic prospects I presume ?

sebadee

So what will happen when eventually new people cannot afford to get on to the market? How anyone thinks this is good is beyond me. I

padington

sebadee wrote: »

So what will happen when eventually new people cannot afford to get on to the market? How anyone thinks this is good is beyond me. I

They will then start making another UK hub a leading global magacity.

Generali

sebadee wrote: »

So what will happen when eventually new people cannot afford to get on to the market? How anyone thinks this is good is beyond me. I

At some point during the last boom some idiot was trying to claim that house prices would rise by 10 or 20% a year forever. I worked out that in 350 years that would mean that it would take the entire GDP of the UK to buy the average house!

CLAPTON

padington wrote: »

... and the extra pairs of hands have nothing to do with our better economic prospects I presume ?

I'm not sure what you mean
are you saying that the 'extra pair of hands' have

-reduce house prices
-improving housing standards
-reduce hospitals waiting lists
-improved productivity
-reduced congestion on the transport system
-improved the balance of trade
-reduced government borrowing
-reduce the overall burden of taxation
-improved the weather


...........

Linda_D_2

sebadee wrote: »

So what will happen when eventually new people cannot afford to get on to the market? How anyone thinks this is good is beyond me. I

Take it with a pinch of salt, it's from the well known joke paper, the express, who print this comedy all the time.

No-one takes them seriously apart from the very gullible and stupid.