House Prices

[paul11974]

what is your opinion on house prices ? i was looking at this site http://www.proviser.com/ and was amazed that house prices have raised by over 180% .............yep 180% in most areas ....this is just crazy

[Martin]

I bought my house for 60,000 five years ago and it is now worth 130,000 crazy!!! But I'm not complaining

[Alan Waddington]

According to that website, the value of my house has more than doubled since I bought it at the start of 1997. Crazy.

[Ramrod]

Originally posted by Martin
I bought my house for 60,000 five years ago and it is now worth 130,000 crazy!!! But I'm not complaining
Mine went from £250k to £410k in 3yrs:( ....stupid

[Martin]

Originally posted by Ramrod
Mine went from £250k to £410k in 3yrs:( ....stupid

Bloody Hell, I hope this isn't the start of the crazy house prices we saw many years back.:(

[Mantastic]

Originally posted by Martin
Bloody Hell, I hope this isn't the start of the crazy house prices we saw many years back.:(

Where have you been?

We could be coming to the end of it!

[paul11974]

imagine if your shopping bill went up by 180% ....wow ....

[Ramrod]

Originally posted by Martin
Bloody Hell, I hope this isn't the start of the crazy house prices we saw many years back.:(
It looks like it's all going to level off for the forseeable future. It's only here that you get this cr*ppy housing market. Other countries have stable interest rates, enough land and hence (fairly) stable prices( unless the brits turn up). "GB" scr*ws things up by not having enough housing, unstable interest rates and allowing speculative investement in housing.

[Ramrod]

Originally posted by paul11974
imagine if your shopping bill went up by 180% ....wow ....
Yes, housing should be like food....fairly stable prices and measured in grams/kgs(so to speak). That way you wouldn't get houses described as having 4 bedrooms (and have to figure out for yourself that you couldn't swing a cat in them) when you should have houses described in terms of sqr ft/mtrs. Imagine buying potatoes in a bag by number, not weight!? NOWHERE ELSE IN THE WORLD are houses marketed like that!:afire: just in rip off britain:rolleyes: (as far as I am aware)
.....and don't get me started on the size of garages here. In parts of Australia its in the building regs that new houses MUST have a double garage:D . Can you imagine that happening here?:eek:

[Nidge]

Not bad to say we are in a recession is it??? I hope people don't get their finger burnt like last time back in the 80s. I think the Government are keeping the interest rates low to see if we can pull out of this recession we are in. What happens if it all backfires???? Interest rates will go sky high again people will be in deep SH**E with their mortage payments, houses will be getting repossed by the thousands and people will be on the scrapheap just like the tory days of the 80s and early 90s.

I've always said this, spend what you can afford not what you can't afford.

[Xaccers]

Originally posted by Ramrod
when you should have houses described in terms of sqr ft/mtrs.

Or both as they are now :D

[Ramrod]

Originally posted by Xaccers
Or both as they are now :D
Not in our local property paper/estate agents windows they're not

[Chris]

Ours has almost doubled since 1999. For us, it's about the only positive side to having to live dahn sahth. We live on a grotty estate at the mo' but should be able to afford something quite nice once we escape north...

[MovedGoalPosts]

I wish people would read these house price rise surveys with a lot of caution, the whole thing, and not just the headline price rise (or fall - some prices are) rate.

The headline price rise given is frequently an annual rate of change, averaged over the whole country and property types. It this includes the almost derelict, lacking all basic ameneties, dwellings up to the latest bespoke celebrity's multimillion mansion. These have all got differing levels of desirability, and thus price changes, many of the mega sized properties in my area have lost £100,00 0s in the last year or so!

If you then look at the location (South East, North West, etc) for similar types of property, you will see vastly different base prices, and price rate change. Proportionately, and depending on how the statistics are counted, due to the number of transactions in differing areas, a few cheaper homes that were once worth say £50,000 but are now £55,000 (5% increase), can distort the changes elsewhere if the average price was £240,00 0 increased to £245,00 0 (1% increase).

These figures are then distorted by them being annualised, based on completed transactions. Again, dependent on how the statistics are formulated, as the market slows there are fewer transactions. These are then distorted by the more numerous earlier transactions of higher price rise, stil in the annual period. Worse, as data is based on completed transactions, and these, even in a good market can take a few months from the property being placed on the market, the most recent trends will not necessarily show up.

In practice, over the last few months, it is my opinion that there has been a complete slowing of the housing market in my corner of Surrey. Prices in fact have been virtually stagnant now for a year or so. Some "first time buyer property" might still see some small increases due to lack of availability (but they are now so expensive), whilst some family sized homes are already seeing some slight falls, with the larger stuff being almost unsellable (unless the vendor takes a very low offer).

The problem is that, the average Joe Public sees the headline rate, and thinks everything is hunky dory, goes to the estate agent (no I am not one) expecting a nice fat profit, and is then disillusioned by the result. Yes estate agents talk the market up, but so do sellers.

These price surveys create unrealistic expectations, which is bad for the housing market, buyers and sellers alike.

[Scarlett]

Originally posted by Ramrod

.....and don't get me started on the size of garages here. In parts of Australia its in the building regs that new houses MUST have a double garage:D . Can you imagine that happening here?:eek:

Not a chance mate, one of the companies near my parents have publicly satated that people don't want garages now a days so the ain't building them. :confused:
Ditto to gardens of a decent size, rooms of a decent size...

We've been very lucky to find somewhere with any garden apart from a sad patch of grass with a concrete block in for the wirley line thingy.

[Chris]

Originally posted by MovedGoalPosts
I wish people would read these house price rise surveys with a lot of caution, the whole thing, and not just the headline price rise (or fall - some prices are) rate.

Agreed, but I don't think all the comments in this thread are based on such surveys. When I say ours has doubled, that is based on the average selling price of comparable houses in our neighbouring streets, as advertised in our local rag each week.

I know that asking price does not necessarily = price achieved, but while the asking prices are consistently double what we paid for ours, I think we have cause to be optimistic ...

[Dave Stones]

Originally posted by towny
Ours has almost doubled since 1999. For us, it's about the only positive side to having to live dahn sahth. We live on a grotty estate at the mo' but should be able to afford something quite nice once we escape north...

hey houses up here are pricey too ;)

but we get cheaper alcohol to make up for it :p

[Chris]

Originally posted by Dave Stones
hey houses up here are pricey too ;)

but we get cheaper alcohol to make up for it :p

True, but where we live is particularly grotty ...

[Martin]

Originally posted by Nidge
Not bad to say we are in a recession is it??? I hope people don't get their finger burnt like last time back in the 80s. I think the Government are keeping the interest rates low to see if we can pull out of this recession we are in. What happens if it all backfires???? Interest rates will go sky high again people will be in deep SH**E with their mortage payments, houses will be getting repossed by the thousands and people will be on the scrapheap just like the tory days of the 80s and early 90s.

I've always said this, spend what you can afford not what you can't afford.

Exactly my point earlier, but you said it better.:)

[MovedGoalPosts]

Originally posted by Scarlett
Not a chance mate, one of the companies near my parents have publicly satated that people don't want garages now a days so the ain't building them. :confused:

In my experience, ppl do want garages, but not for cars, but as a "toy box". In our increasing leisure lifestyles, we are accumulating bicycles, and all sorts. The garden shed is no longer enough!

Originally posted by Ramrod
.....and don't get me started on the size of garages here. In parts of Australia its in the building regs that new houses MUST have a double garage . Can you imagine that happening here?

True our building regs do not define the sizes of garages, but Town Planning does determine how many parking spaces (including garages) a house should have, and these will frequently stipulate a garages minimum size. Unfortunately, noone has told the planners that modern cars have become quite wide what with door mirrors - that's why your car wont fit!

*edit to correct quote formatting

[Ramrod]

Originally posted by MovedGoalPosts
In my experience, ppl do want garages, but not for cars, but as a "toy box". In our increasing leisure lifestyles, we are accumulating bicycles, and all sorts. The garden shed is no longer enough!



True our building regs do not define the sizes of garages, but Town Planning does determine how many parking spaces (including garages) a house should have, and these will frequently stipulate a garages minimum size. Unfortunately, noone has told the planners that modern cars have become quite wide what with door mirrors - that's why your car wont fit!

*edit to correct quote formatting
yup....Iv'e had dealings with council planners on many occasions, they are all a bunch of toss*rs

[paul11974]

any ideas on what the average sized family house would set u back by in america......?

[MovedGoalPosts]

Originally posted by Ramrod
yup....Iv'e had dealings with council planners on many occasions, they are all a bunch of toss*rs

agreed :******: :naughty: :rofl:

[bob_a_builder]

any ideas on what the average sized family house would set u back by in america......? Guess what America is even bigger than the UK (yes really) where we have a fairly wide range of prices between lands End, London and John O' groats so how realistic do you expect the average price in the US to be.

fyi I have to hand the bumf of a new 5 bed, 2 car garage house just outside Boston $925K Living area 3000 sq/ft