Quantitative easing had a habit of devaluing the buying power.
don’t worry though it isn’t people buying the houses it’s private equity firms YAAAAY
Well yeah, everyone knew interest rates were rising.
You only need to look at New Zealand to see how much worse this is likely to get.
£500k average seems more likely than a “crash” in the next few years at this point to me if I were a betting woman.
The market really is just completely fucked at this point, and because the Tories keep proping it up it doesn’t seem to matter what happens, a million Europeans leave, a global pandemic brings the country to a halt, huge rises in energy prices, cost of living sky rockets, none of it matters, the prices just keep going up.
>The building society said prices rose by 11.2% year-on-year
If that rate of growth were to be maintained, house prices would *double* every 6.25 years.
Absolute madness.
My plan to move to the Caribbean and open a boat repair shop is becoming more and more a reality
Me and my wife have saved to move home for 2 years. The houses round us we were looking at have increased in value faster than we’ve saved going from 250-275 to 350-375
We have less to allocate against the house than we started with in real terms, and our mortgage will be big.
I live in a typical town terrace house – renting. The house next door recently was sold within a week, previously this was rented with various tennants in my current two year timeframe here – a typical boomer in a Porche buys it, within a week has it up for let, all we heard was a couple of drill noises in the space it took to buy it and rent it. Im 100% convinced he hasn’t made sure the plumbing/wiring is correctly functioning, and checked for no hidden problems after all the tennants in and out. Just literally buys it and rents it immediately.
This housing market is absolutely fucked.
If people can afford it and lots of people can and do of course they will continue to rise
Our country is well and truely fucked.
Most people will never own a house at this rate.
My wife and I are now at the stage where if this continues, we’ll leave the country. Something has to give.
Everything up but wages. The modus operandi for the past decade and a half.
It’s crazy. And it’s not just investors, it’s people selling their houses to upgrade. Where I am someone just outbid me for a house by bidding 60k over the asking price and the asking prices around here are already crazy.
I am a first time buyer.
No government I can see will allow them to fall. Homeowners are voters. If they fall that party loses the vote. All parties will do whatever to keep the market from crashing.
Ending mass immigration would lower prices dramatically as our population levelled off and then reduced but yeah not a popular thing to say around these parts.
As someone having to sell a house soon out necessity I like that I’m probably going to get a decent amount over what was paid.
As someone who will shortly afterwards have to try and find a new place to live on half the monthly income, I don’t like it at all.
Currently buying a house in Cambridgeshire for 400k, due to complete next week. Deal was made in October, and another of the same kind has come on in the same street this week at 450k. Hoping the sellers don’t see it before we’ve exchanged contracts.
The Tories Simply won’t shake up the system of placing shelter, a basic need of many, into the hands of foreign private equity firms and Bankers.
The Tories have friends in high places. The value of the housing market cannot be allowed to collapse.
It sickens me to this day that George Osbourne found the cash to snort Coke (in the house of commons no less), whilst people struggle to get basic shelter!
Im moving out after finishing my degree. Im not renting a house for my entire life and im not paying a student loan that has a 7% interest rate.
I really don’t understand how house prices seem to float in a different bubble to everything else that’s going on in the country.
Who the fuck is buying at these prices?
Just as we’re looking to sell up and buy… not sure how to feel.
I’ve been renting the same place for several years. Did the maths the other day, in that time I’ve paid 70% of the price my landlord paid for the place in the early 2000s. Meanwhile I’m saving for a deposit and the value of neighbouring properties is going up more than I earn in a year. Looks like a middle of nowhere dilapidated Sicilian farmhouse is the only option left if I’m ever going to buy anywhere. Tbh it feels like being the last one in at the highest price on a pyramid scheme. On principle I don’t even want it anymore.
Every month is the fastest growth rate for house prices. Expect to see this article on the 1st of every month going forward for the next 20 years.
But bank of England won’t raise interest rates cos they don’t care about people !!!!!!! They care about big business. Arghhhhhhhhhhh
I feel desperately sorry for first time buyers now. I’m so lucky that I got my cottage in 2014 for about £130,000, now its worth about £220,000. Mental.
26 comments
Quantitative easing had a habit of devaluing the buying power.
don’t worry though it isn’t people buying the houses it’s private equity firms YAAAAY
Well yeah, everyone knew interest rates were rising.
You only need to look at New Zealand to see how much worse this is likely to get.
£500k average seems more likely than a “crash” in the next few years at this point to me if I were a betting woman.
The market really is just completely fucked at this point, and because the Tories keep proping it up it doesn’t seem to matter what happens, a million Europeans leave, a global pandemic brings the country to a halt, huge rises in energy prices, cost of living sky rockets, none of it matters, the prices just keep going up.
>The building society said prices rose by 11.2% year-on-year
If that rate of growth were to be maintained, house prices would *double* every 6.25 years.
Absolute madness.
My plan to move to the Caribbean and open a boat repair shop is becoming more and more a reality
Me and my wife have saved to move home for 2 years. The houses round us we were looking at have increased in value faster than we’ve saved going from 250-275 to 350-375
We have less to allocate against the house than we started with in real terms, and our mortgage will be big.
I live in a typical town terrace house – renting. The house next door recently was sold within a week, previously this was rented with various tennants in my current two year timeframe here – a typical boomer in a Porche buys it, within a week has it up for let, all we heard was a couple of drill noises in the space it took to buy it and rent it. Im 100% convinced he hasn’t made sure the plumbing/wiring is correctly functioning, and checked for no hidden problems after all the tennants in and out. Just literally buys it and rents it immediately.
This housing market is absolutely fucked.
If people can afford it and lots of people can and do of course they will continue to rise
Our country is well and truely fucked.
Most people will never own a house at this rate.
My wife and I are now at the stage where if this continues, we’ll leave the country. Something has to give.
Everything up but wages. The modus operandi for the past decade and a half.
It’s crazy. And it’s not just investors, it’s people selling their houses to upgrade. Where I am someone just outbid me for a house by bidding 60k over the asking price and the asking prices around here are already crazy.
I am a first time buyer.
No government I can see will allow them to fall. Homeowners are voters. If they fall that party loses the vote. All parties will do whatever to keep the market from crashing.
Ending mass immigration would lower prices dramatically as our population levelled off and then reduced but yeah not a popular thing to say around these parts.
As someone having to sell a house soon out necessity I like that I’m probably going to get a decent amount over what was paid.
As someone who will shortly afterwards have to try and find a new place to live on half the monthly income, I don’t like it at all.
Currently buying a house in Cambridgeshire for 400k, due to complete next week. Deal was made in October, and another of the same kind has come on in the same street this week at 450k. Hoping the sellers don’t see it before we’ve exchanged contracts.
The Tories Simply won’t shake up the system of placing shelter, a basic need of many, into the hands of foreign private equity firms and Bankers.
The Tories have friends in high places. The value of the housing market cannot be allowed to collapse.
It sickens me to this day that George Osbourne found the cash to snort Coke (in the house of commons no less), whilst people struggle to get basic shelter!
Im moving out after finishing my degree. Im not renting a house for my entire life and im not paying a student loan that has a 7% interest rate.
I really don’t understand how house prices seem to float in a different bubble to everything else that’s going on in the country.
Who the fuck is buying at these prices?
Just as we’re looking to sell up and buy… not sure how to feel.
I’ve been renting the same place for several years. Did the maths the other day, in that time I’ve paid 70% of the price my landlord paid for the place in the early 2000s. Meanwhile I’m saving for a deposit and the value of neighbouring properties is going up more than I earn in a year. Looks like a middle of nowhere dilapidated Sicilian farmhouse is the only option left if I’m ever going to buy anywhere. Tbh it feels like being the last one in at the highest price on a pyramid scheme. On principle I don’t even want it anymore.
Every month is the fastest growth rate for house prices. Expect to see this article on the 1st of every month going forward for the next 20 years.
But bank of England won’t raise interest rates cos they don’t care about people !!!!!!! They care about big business. Arghhhhhhhhhhh
I feel desperately sorry for first time buyers now. I’m so lucky that I got my cottage in 2014 for about £130,000, now its worth about £220,000. Mental.