Do you want house price to rise or fall?

lisyloo

plenty of others could, but only by giving up on the best career path for them

It's not just careers, it's children, grandchildren, elderly parents.
Ok some people have fewer ties and could move, but I think family is right up there with career and of course many people e.g. delivery drivers, plumbers, hairdressers, don't have a career, they have a job.

HornetSaver

lisyloo wrote: »

It's not just careers, it's children, grandchildren, elderly parents.

Those were covered by the people I say "simply couldn't do that"

lisyloo

HornetSaver wrote: »

Those were covered by the people I say "simply couldn't do that"

great - I'm embellishing what I think "plenty" means.
That's what we do here - discuss things.

westernpromise

I don't understand all the fussing around FTBs as though they're the most important actors in the whole market.

What about 3rd, 4th and 5th time buyers who can't afford to move because of the transaction costs? If they don't trade nobody can. An FTB needs to buy from someone and currently there are more FTBs trading than all others combined, which says that not enough is being offered for sale.

lisyloo

What about 3rd, 4th and 5th time buyers who can't afford to move because of the transaction costs?

Why can they not afford when there have been many years of nominal growth?
Do you mean disinclined?


I think it's a concern if mobility is restricted (whether through disinclination or not). It would be better for the economy all round if it was easier for people to move as people would spend money moving (on goods and services) plus it may free up certain types of accomodation e.g. elderly single person living in family home. It could also reduce congestion/pollution.

westernpromise

What "nominal growth"? I need that "growth" to buy the next place which has also experienced "nominal growth" (proving that it's actually just inflation). If you want to move sideways for the same nominal price - you can't. That is the reality of stamp duty.

It would cost me £100k in SDLT to move further out of London to a bigger property priced the same. That is a hundred f cking grand.

That's like postponing my retirement a couple more years so I can pay more tax.

Stamp duty should be based on square footage and the same rate throughout the country. And there should be a CGT holiday on second property sales. Housing market sorted.

movilogo

Stamp duty should be based on square footage and the same rate throughout the country.

So is council tax then, based on service used. A 6-person household paying same as 2-person household is not fair.

LdnFtB

As a relatively new homeowner I'd like them to fall gradually or at least stay where they are, as I'd like to upgrade in the medium term. Rising prices just means the next 'rung' on the ladder is further out of reach even if our equity in our current property increases.

snowqueen555

I'd like them to fall.

There is such a gulf in wealth between owners and non-owners.

Someone who bought a house for £125k 7 years ago is now sitting on a house worth £250k in my city. Good for them.

As someone who can't afford to own a home, 7 years of savings is noway near the £125k appreciation in owning a home.

seven-day-weekend

Hmmm.

From a totally selfish viewpoint I would like them to rise, as I would like my investment property to rise in value so that I make a profit if I sell it.

But in wider terms I would like them to fall so that it is easier for a working couple to buy a modest home.

So on balance, I will vote FALL.