house prices really picking up pace

floridaman

i stopped monitoring house prices this year and just checked in recently to see what houses were going for in my street and there has been a surge in sold prices, asking prices, estimates this year. I can't help but spare a thought for those who rent as what chance do they have now? Even rents are moving up.

remorseless

floridaman wrote: »

i stopped monitoring house prices this year and just checked in recently to see what houses were going for in my street and there has been a surge in sold prices, asking prices, estimates this year. I can't help but spare a thought for those who rent as what chance do they have now? Even rents are moving up.

The same as they had before? Maybe think twice before upgrading their mobile phone? hmmm must explain why not many are buying the iWatch



pre-GFC people must have felt completely bonkers looking at the house prices going up rapidly? Armageddon!!!
FYI, with or without a house people are still capable of breathing, maybe in a smaller house, but still breathing!

Thrugelmir

floridaman wrote: »

i stopped monitoring house prices this year and just checked in recently to see what houses were going for in my street and there has been a surge in sold prices, asking prices, estimates this year. I can't help but spare a thought for those who rent as what chance do they have now? Even rents are moving up.

And sales are falling. As Sir John Templeton famously said.

“Bull markets are born on pessimism, grown on scepticism, mature on optimism and die on euphoria”

jacko74

With supply as restricted as it is, house prices ought to going through the roof (no pun intended) but actually in most parts of the UK prices are only rising very modestly... a clear indication that this particular 'asset' is overvalued.

Anyway, enough talk of house prices, I'm putting all my money in tulip bulbs, that's where the smart money is.

lisyloo

How about updating that graph by 20 months???

remorseless

lisyloo wrote: »

How about updating that graph by 20 months???

here you go!


and it looks like houses are even more affordable! Salary/House price ratio...


But these are averages... so obviously some spots would be impossible to buy while others would be selling at a loss!

y'know, in 30 years time they will still have the same argument...

Thrugelmir

remorseless wrote: »

But these are averages... so obviously some spots would be impossible to buy while others would be selling at a loss!

y'know, in 30 years time they will still have the same argument...

The long term average is skewed by the reckless lending in the post 2002 era.

remorseless

Thrugelmir wrote: »

The long term average is skewed by the reckless lending in the post 2002 era.

I dunno, I wasn't here, it wasn't my fault
Though when I was reading the graph, looks like the average increase is only 3%~ a year between the dip in Feb 09 and Feb 15.

So beside London, doesn't seem that dramatic really!

lisyloo

So beside London, doesn't seem that dramatic really!

I think that's spot on.
Parts of London have increased dramatically due to demand, also particular cities like Edinburgh but the rest of the country is not in a bubble.

ukcarper

Thrugelmir wrote: »

The long term average is skewed by the reckless lending in the post 2002 era.

You could say the same about the lows of the 90s.

Thrugelmir

ukcarper wrote: »

You could say the same about the lows of the 90s.

Don't recall reckless lending back then.