I’ve just accepted an offer on my house for 30% more than I paid 4 years ago, not really done much to it in that time either.
Best to buy as soon as you can before the runaway train of affordability makes it impossible.
Difficult_Bag69 on
All those pesky immigrants on minimum wage pushing up prices again. Tut.
Oh, no, wait. This is what happens when the rich* reach the financial equivalent of escape velocity.
*no, not those on £70k, those with £25million in assets.
CrispoClumbo on
Fucking madness. Just how broken is this country? Are house prices just to continue rising exponentially while the normal person struggles to pay for water, food and electricity? What’s the end game?
The government has pressured regulators to scrap lending rules, 100% mortgages are back.
2008 is calling.
RiceeeChrispies on
I’ve never understood why people celebrate stuff like this.
Unless you’re downsizing or mortgaged to the hilt (and this improves your LTV, meaning access to better rates), this has little-to-no-benefit to the average joe. All it does is make it harder to move up – or even get on the ladder.
Chimarkgames on
A small island full of people, unbalanced wealth. The Rich are richer and poor and poorer, what do you expect ? The house prices to go down? lol
griff_the_unholy on
What happens when houses within the m25 area are removed from this calculation?
grrrranm on
This is the thing as long as the population continues to increase the price will continue to rise!!!
-NiMa- on
Actually if adjust house price on inflation the UK house price is lower than 2008 so there is room for it to get even more expensive.
StevePerChanceSteve on
“ Lenders have been slowly reducing interest rates, and reviewing affordability criteria, allowing buyers to borrow more. The lowest available two-year fixed mortgage rate is 3.72%, according to Rightmove’s weekly mortgage tracker, down from 4.75% last year.”
Anyone fact checked this? Doesn’t sound right. Not sure the absolute best was 1% more a year ago?
Jensablefur on
Just wait until interest rates get walked back down to like sub 2% again.
There’s no stopping this. You’d need a price crash twice as big as 2008 (edit, even bigger in some areas) just to get prices back to pre-Covid.
I really do feel for younger people with this issue. Unless they’ve got a chunky inheritance that includes property or a very good bank of mum and dad situation then the entire market is legit starting to look like some sort of abstract fantasy thing to them.
Kazumi96 on
These houses degrade and fall apart over the decades long through their lifetime. Funny how the value increase dramatically rather than decrease, so whoever owns it in the future ends up purchasing a maintenance-demanding home driving the costs up more.
AhoyPromenade on
The reality is that with inflation, houses have gone down in price compared to about 4-5 years ago.
12 commenti
I’ve just accepted an offer on my house for 30% more than I paid 4 years ago, not really done much to it in that time either.
Best to buy as soon as you can before the runaway train of affordability makes it impossible.
All those pesky immigrants on minimum wage pushing up prices again. Tut.
Oh, no, wait. This is what happens when the rich* reach the financial equivalent of escape velocity.
*no, not those on £70k, those with £25million in assets.
Fucking madness. Just how broken is this country? Are house prices just to continue rising exponentially while the normal person struggles to pay for water, food and electricity? What’s the end game?
The government has pressured regulators to scrap lending rules, 100% mortgages are back.
2008 is calling.
I’ve never understood why people celebrate stuff like this.
Unless you’re downsizing or mortgaged to the hilt (and this improves your LTV, meaning access to better rates), this has little-to-no-benefit to the average joe. All it does is make it harder to move up – or even get on the ladder.
A small island full of people, unbalanced wealth. The Rich are richer and poor and poorer, what do you expect ? The house prices to go down? lol
What happens when houses within the m25 area are removed from this calculation?
This is the thing as long as the population continues to increase the price will continue to rise!!!
Actually if adjust house price on inflation the UK house price is lower than 2008 so there is room for it to get even more expensive.
“ Lenders have been slowly reducing interest rates, and reviewing affordability criteria, allowing buyers to borrow more. The lowest available two-year fixed mortgage rate is 3.72%, according to Rightmove’s weekly mortgage tracker, down from 4.75% last year.”
Anyone fact checked this? Doesn’t sound right. Not sure the absolute best was 1% more a year ago?
Just wait until interest rates get walked back down to like sub 2% again.
There’s no stopping this. You’d need a price crash twice as big as 2008 (edit, even bigger in some areas) just to get prices back to pre-Covid.
I really do feel for younger people with this issue. Unless they’ve got a chunky inheritance that includes property or a very good bank of mum and dad situation then the entire market is legit starting to look like some sort of abstract fantasy thing to them.
These houses degrade and fall apart over the decades long through their lifetime. Funny how the value increase dramatically rather than decrease, so whoever owns it in the future ends up purchasing a maintenance-demanding home driving the costs up more.
The reality is that with inflation, houses have gone down in price compared to about 4-5 years ago.