Annual house price growth ‘not far off average UK earnings’ The new record house price of £282,753 is up by £28,113 on a year ago, not far off average UK earnings at £28,860, Halifax said.
Annual house price growth ‘not far off average UK earnings’ The new record house price of £282,753 is up by £28,113 on a year ago, not far off average UK earnings at £28,860, Halifax said.
8 comments
That 18.2% since lockdowns were brought in is very conservative compared to my area.
Same buildings in the same streets that were selling for just under 200k in late 2019 are now knocking on the door for 300k. Its crazy.
You can make more money passively off an extra house than full time employment.
How are people spending their entire average salary on Avocado derivative foodstuffs and Starbucks coffee?
Because I’ve been reliably informed that’s why nobody can afford to get on the property ladder these days.
This is why you need to buy now. Those prices will never go down and if they do, there’ll be much bigger problems than housing. For many it’s pretty much now or never now. Don’t hesitate, buy now!
My local newspaper keeps reporting house price increases as if they were a good thing.
It’s embarrassing.
I keep having ghouls from the local estate agents knocking on my door pleading with me to sell my house because they have people on their books desperate to move into the area because it’s in the catchment for several highly rated schools. My neighbour recently sold their house within 6 hours of it going on the market. Didn’t even have time to put a for sale sign up. Buyer offered 15k over the asking price without even wanting to view the property. Absolute insanity.
>“At some point in the near future the cost-of-living squeeze and rising mortgage rates will pull prices back down to earth. A shortage of property for sale has been instrumental in driving double-digit price growth, which is another situation that can’t continue indefinitely.
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>“A strong labour market and high levels of household wealth accumulated during the pandemic means prices will calm down without going into reverse.”
I’m not a very smart man, but don’t these two paragraphs contradict each other?
In the future, the difference between haves and have-nots will be a function of whether they have property or not. It’s not far off that now.
It is never going to be easier to get on the ladder than it is now.
To the yutes – scrimp, save, and don’t be put off by these headlines – you only need to save for a deposit for a little flat or something. It gets much easier once you’re on the ladder.