Average asking prices pass 300k!!!

nubbins

http://www.rightmove.co.uk/news/wp-content/uploads/2016/03/Rightmove-House-Price-Index-March-2016-FINAL.pdf

PasturesNew

Lots cheaper though .... mine's worth about 80% of that... in an area where the average is closer to £400k

MiserlyMartin

Madness. It will end in tears, not worth the risk. I bought out of this country in a place where prices are reasonable and put my money where my mouth is.

mwpt

MiserlyMartin wrote: »

Madness. It will end in tears, not worth the risk. I bought out of this country in a place where prices are reasonable and put my money where my mouth is.

Where have you moved to?

westernpromise

MiserlyMartin wrote: »

Madness. It will end in tears, not worth the risk. I bought out of this country in a place where prices are reasonable and put my money where my mouth is.

In 1960 you could buy a white stucco house in St John's Wood for £10,000. Ten years later it was £40,000. Was that madness too?

PasturesNew

I spotted two cottages for sale earlier today while reading a newspaper from 1939. Two cottages on a village green. Today they'd cost you £400k EACH. Back then they were advertised at £200.... I can't remember without looking whether that's each or the pair, but at that price it's not worthwhile me double checking as anybody can see that's just nuts

My granddad was probably born in one of those 38 years before that, when they'd have been even cheaper (his parents would've been renting though; not property owners).

nubbins

On that basis my house will be worth £12,000,000,000 in approx 75 years time, not even sure what that number is, 12 billion I think

cells

PasturesNew wrote: »

I spotted two cottages for sale earlier today while reading a newspaper from 1939. Two cottages on a village green. Today they'd cost you £400k EACH. Back then they were advertised at £200.... I can't remember without looking whether that's each or the pair, but at that price it's not worthwhile me double checking as anybody can see that's just nuts

My granddad was probably born in one of those 38 years before that, when they'd have been even cheaper (his parents would've been renting though; not property owners).

I know a couple who recently spent £70k renovating a 2.5 bed house which they say looked like no work was done to it in over 50 years.

They spent a lot of money on it and the pre and post product is not really comparable.

Apart from the supply and demand problem in parts of the country the UK would need to return to building simple basic homes to reach the very affordable cheap prices of yesteryear. Homes with solid walls, no central heating, basic electrics basic finish, no 10 year guarantee, no s106, little or no planning fees, little or no building or employment regulations. Simply put we would need to roll back the clock on all the things that make building a house expensive in this country.

cells

westernpromise wrote: »

In 1960 you could buy a white stucco house in St John's Wood for £10,000. Ten years later it was £40,000. Was that madness too?

the madness of inflation something which might have been tamed at very low levels for the foreseeable future

caronoel

My parents bought in Barnes in the early 70s for £25k right in the middle of the oil crisis. Everyone told them they were completely bonkers

Value now is just under £1.5m

Moral of the story is that while prices may fluctuate in the short or medium term, they are on a long term upward trajectory.

mwpt

cells wrote: »

I know a couple who recently spent £70k renovating a 2.5 bed house which they say looked like no work was done to it in over 50 years.

They spent a lot of money on it and the pre and post product is not really comparable.

Apart from the supply and demand problem in parts of the country the UK would need to return to building simple basic homes to reach the very affordable cheap prices of yesteryear. Homes with solid walls, no central heating, basic electrics basic finish, no 10 year guarantee, no s106, little or no planning fees, little or no building or employment regulations. Simply put we would need to roll back the clock on all the things that make building a house expensive in this country.

I refuse to believe that in a world where the cost of almost everything falls as the technology to build it increases, we can't find an ultra cheap way to mass assemble houses.

The problem is of course the price of land, but the government owns lots of that already. So what is it? Lack of will? Pandering to big builders?