I 'spect it'll trickle down to the cheaper houses. Well, it only affects multiple house owners except in the case of negative equity. Come Brexit, we can cut down migration to those we need and house prices will fall some more. But now's the time to sell/downsize if you're thinking on it.
Not sure it matters too much unless it takes you into negative equity. I sold in 2010 and took a £20k hit I sold and made £111k profit, the house I bought took an even bigger hit as I got it for £35k less than the asking price, but then I was the buyer and not desperate.
Things go in cycles, always have done. Nothing new there. I'm just surprised nobody expects it. Its not as if you have to have been alive long to remember the last times it?
I don't think its wise using property to generate a return of themagnitde expected. its this greed that caused the mess in the first place. OK so interest rates are still low, but we seem to be obsessed with maximising gain when we should instead be looking at trying to be happy in ourlives. Brian
In message , Brian Gaff writes
Interesting, thinking about longer term, though. I cannot find long term figures (quickly), but logic suggests house prices would have fallen in the 30s (crash), risen after WWII (shortages) but then rose fairly steadily until the housing crash of the early 80s. Since then, prices have been up and down like a yo yo. We are regularly warned that house prices are going to either boom or bust. Why have house prices been volatile over the last 40 years, but not the previous 40 years? Cannot all be blamed on the Thatcher Effect or immigration :-)
30s were the beginning of the owner-occupier boom that has only reversed since 2008. We have probably reached a peak because there is a limit to the utility of owner occupation, and low inflation since the 80s has removed much of the incentive to borrow as much as you can afford in the expectation that inflation will wipe out the debt.
last 20 years figures charted from Land Registry HPI:
Since then,
In message , DJC writes
Interesting. Thank you.
Speculation. Certain people with large property portfolios want immigration because it drives up house prices. A completely new phenominum.
'Utility' is a pretty difficult one to bottle. It's still a huge cultural 'must have' for a lot of the UK. It won't take much for it to swing back to low-70%s . . .
Impressive, thanks!
Are you sure you don't mean "phenominium" ?
We are British after all.
Definite proof that you don't have to be illiterate to be Green, but it always helps.
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