Debate House Prices


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Just reminded me

Pobby
Pobby Posts: 5,438 Forumite
in Debate House Prices & the Economy
We were chatting today that when in 1975 we bought our first home we had to wait 2 months until the building society had the funds. Not saying that house prices were not increasing, we had rampant inflation and indeed properties followed track. However, not the 200% we have seen over the last decade or so.

Currently, our house has risen by 300% and more in the space of 17 years.

Simple but so true.

https://www.youtube.com/watch?v=Y4WmDoYJhnk&feature=iv&src_vid=ZzCegQVljdY&annotation_id=annotation_1263056767
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Comments

  • ukcarper
    ukcarper Posts: 17,337 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    I didn't have to wait in 1972 but when I moved in 1983 I had to go to broker to get a mortgage quickly as their was a wait with BS I was already with.

    As for prices increasing in road I bought in in 1972 prices doubled in just over a year.
  • chewmylegoff
    chewmylegoff Posts: 11,466 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    You seem to spend most of your time thinking about what it was like to buy a house in the 1970s.
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
    Mortgage-free Glee!
    there was a major HPC in 73/74
  • Pobby
    Pobby Posts: 5,438 Forumite
    woodbine wrote: »
    there was a major HPC in 73/74

    Think it was around 10% our way.
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    Pobby wrote: »
    Think it was around 10% our way.

    Probably quite a lot more in real terms as inflation was so high at the time.
  • carslet
    carslet Posts: 360 Forumite
    Generali wrote: »
    Probably quite a lot more in real terms as inflation was so high at the time.

    Yes you are right would have been a lot more as inflation was very high at the time, and people got massive pay rises
  • TheBlueHorse
    TheBlueHorse Posts: 176 Forumite
    who cares what was happening in the 1970's?
  • lisyloo
    lisyloo Posts: 30,090 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    who cares what was happening in the 1970's?

    Anyone that wants to learn something from history?
  • purch
    purch Posts: 9,865 Forumite
    TheBlueHorse wrote: »
    who cares what was happening in the 1970's?

    I sometimes have fond memories :)
    'In nature, there are neither rewards nor punishments - there are Consequences.'
  • TheBlueHorse
    TheBlueHorse Posts: 176 Forumite
    lisyloo wrote: »
    Anyone that wants to learn something from history?

    Yes but this post just says it took the lender a while to get the funds. What does this tell us? Things were less efficient and didn't move as quickly in the 70's as they do now?

    What do we learn from this?
This discussion has been closed.
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