Halifax: Average house price passes 200k.

Graham_Devon

Posting it as it's a bit of a milestone. Up 1.7% MOM.

Reasons are a record low in the amount of houses for sale, higher employment, increasing real earnings and very low mortgage rates.

And a rather different statistic. House prices per square metre have risen by 18% since 2010. A square metre of a house now costs an anervae £2,033. In London, a square metre of a house has risen 45% since 2010.

http://www.bbc.co.uk/news/business-33433813

michaels

More people, no more houses, inelastic demand.

MFW_ASAP

It looks like the Bears were wrong all along!

Who would have thought that a bunch of risk adverse, shrt sighted, prejudiced moaners could be so wrong about financial matters. What is the world coming to?

Carl31

so whos right? Nationwide or Halifax?

MARTYM8`

There are only two house prices that matter to a person – the price of the property you want to sell (if applicable) and the one you want to buy.

This average figure is therefore meaningless – some areas have seen house prices rise by 50% plus even compared to the 2007 high whereas Northern Ireland is still 50% down on those levels. £200k might buy you a one bed flat in an unglamorous part of east London – or a huge detached house in Scotland.

Just providing some context – it would be interesting to see average figures excluding London and the south east.

movilogo

It implies there are many houses below £200k and over £200k - which is basically meaningless.

We need to see median house prices in each geographical areas.

mwpt

MFW_ASAP wrote: »

It looks like the Bears were wrong all along!

Who would have thought that a bunch of risk adverse, shrt sighted, prejudiced moaners could be so wrong about financial matters. What is the world coming to?

It would be better for society as a whole if you could make your gains on other asset classes, things more tied to the actual productive economy, rather than the economy of ever increasing debt to income ratio and paper wealth paid for by the future guys. Gloating about making a lot of money by increases in probably the most important function of most peoples lives is what breeds the big divide between the so called 'bears' and 'bulls'.

Now I wait for all the old timers to tell me how property has always been hard to buy, it wasn't easy in the old days, blah blah. Despite all reports to the contrary.

floridaman

House prices will always go up its a supply and demand issue

mwpt

floridaman wrote: »

House prices will always go up its a supply and demand issue

I can tell you've given this a lot of thought.

MARTYM8`

floridaman wrote: »

House prices will always go up its a supply and demand issue

I assume you are less than 6 years old?

Jonbvn

movilogo wrote: »

It implies there are many houses below £200k and over £200k - which is basically meaningless.

No it doesn't. That is the median not the average.