Would you prefer ....

padington

UK houses to be worth on average ....

A) £1 each
£100'000
C) £1 million
D) £1 billion

Serious question. This is imagining other prices around the world stay the same. Just UK prices we are considering here.

... would be good if you could explain your thinking, tell us why.

System

£1 billion. Then I'd sell mine and move somewhere hot.

Carl31

£100k on average. Means there is still a range above and below for all earners, but also still costly enough to be something to aspire to and be proud of, but wont mean you are saddled with insane debt if you live in certain parts of the country.

globalds

1 Billion :
then we don't have to worry about forcing any kind of controls on ownership by none doms ..They simply can't afford to buy here

The government could sell a few of it's places and pay off the national debt.

People would really look after their places ..a £5,000 double glazing job is nothing if your house is worth a billion.

BobQ

£1? Glad I have not invested in making bricks.....

Blacklight

£1.

If I won the lottery before then I'd buy each and every one. As it stands I could only afford Bolton.

cells

UK houses couldn't be worth £1B each it would value the stock at over 28,000 trillion pounds which is some 500x world GDP

£1 a house is also unrealistic people would sell them as rubble for more

Anything between 100k to 1m ia actually possible

of the two I think £1M would be better as it would mean that the average full time wage is ~£200k

Landofwood

cells wrote: »

of the two I think £1M would be better as it would mean that the average full time wage is ~£200k

Why's that then?

purch

£ 1 Billion.

Then I could buy an apartment in NYC, a beach house in Malibu, and something nice in Sydney and live a life of luxury on the balance.

Anyone who owns a house and wants it to valued as something else must be bonkers..

Landofwood

The mistake you're all making is that, given the rules in the OP, you wouldn't be able to sell your home if it were worth £1bn.

Do you really think someone will buy your "average" 3-bed semi in the UK for £1bn, when they could buy a portfolio of the most luxurious properties in the best locations around the world?

There is no "bottom of the chain" as no-one will buy a starter home, so people at the bottom are unable to upgrade and people at the top have no-one to sell to - the entire property market grinds to a halt.

Graham_Devon

Landofwood wrote: »

The mistake you're all making is that, given the rules in the OP, you wouldn't be able to sell your home if it were worth £1bn.

Do you really think someone will buy your "average" 3-bed semi in the UK for £1bn, when they could buy a portfolio of the most luxurious properties in the best locations around the world?

There is no "bottom of the chain" as no-one will buy a starter home, so people at the bottom are unable to upgrade and people at the top have no-one to sell to - the entire property market grinds to a halt.

Seems you are bonkers.