Halifax: Average house price passes 200k.

westv

Jonbvn wrote: »

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

You mean the median average rather than the mean average.

wotsthat

MARTYM8` wrote: »

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.

..and what the 'bears' miss is the significance of the original price paid falls with each passing year.

They know the price of everything and the value of nothing.

floridaman

MARTYM8` wrote: »

I assume you are less than 6 years old?

You aren't bitter are you?

jacko74

I can only half understand why the record low numbers of properties on the market is mainly being put down to the record low interest/mortgage rates...

Whilst I realise it means people can currently afford their mortgages so don't need to sell, it surely should also mean there are plenty of people who can afford a bigger mortgage and are looking to sell their current homes and move up the ladder?... so why isn't this happening?

Graham_Devon

jacko74 wrote: »

Whilst I realise it means people can currently afford their mortgages so don't need to sell, it surely should also mean there are plenty of people who can afford a bigger mortgage and are looking to sell their current homes and move up the ladder?... so why isn't this happening?

Probably because the "cost" of moving up isn't seen as value for money.

As prices rise, so does the gap between your house price and the next rung up the ladder. As does stamp duty and legal fee's.

While someone might be willing to pay 30k for an extra bedroom, are they as willing to pay 70, 80 or 90K?

Thrugelmir

jacko74 wrote: »

I can only half understand why the record low numbers of properties on the market is mainly being put down to the record low interest/mortgage rates...

Whilst I realise it means people can currently afford their mortgages so don't need to sell, it surely should also mean there are plenty of people who can afford a bigger mortgage and are looking to sell their current homes and move up the ladder?... so why isn't this happening?

Population is ageing. Why spend money on a larger property of which you have no need. Which one day will have to be sold again.