Wednesday, Sep 01, 2010
Hooray! We can all become wealthy without working! Especially if you were wealthy to start with!
Express: FAMILY HOME PRICES 'RISE £91 A DAY'
Homeowners with family properties have seen the value of their houses rise by around £91 a day during the past year, research has indicated. The value of detached homes increased by 13% during the year to the end of June, to stand at an average of £299,295, according to Halifax. The group said the price rise had outperformed all other property types, which saw price gains of between 8% and 9% during the same period. Suren Thiru, Halifax housing economist, said: "... it is notable that detached homes have seen the largest average price rises. Such properties are likely to have benefited from greater demand from those buuyer groups currently most able to enter the housing market."
Posted by mark wadsworth @ 12:11 PM (2630 views) Add Comment
41 Comments
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1. titaniccaptain said...
"Homeowners with family properties have seen the value of their houses rise by around £91 a day during the past year".............where?....certainly not in Wales where they are are falling like a stone.
2. mark said...
"Have your say" is unavailable for this story
exactly it is a story
why are the express stopping comments?
3. timmy t said...
"... it is notable that detached homes have seen the largest average price rises. Such properties are likely to have benefited from greater demand from those buuyer groups currently most able to enter the housing market."
Disagree entirely... The number of people who "enter the housing market" at this level is pretty negligible.
4. sibley's love child said...
HPI giveth and HPC taketh away.
Hope you enjoyed your illusory wealth you f*ckin' numpties.
5. mark wadsworth said...
@ SBC, the wealth might be illusory, but the debts are real :-)
6. Paul said...
Hang on, why is this data different to the HPI published each month by the Halifax? Where did 8, 9 and 13% come from when the current average annual rate published by the Halifax is 4.9%?
7. tudorian said...
@ bore da tc
I've started looking at Wales (specifically carmarthenshire coast). I'm not seeing much activity captain; other than increases of housing on the market. Solid three bed cottages and terraces are available under £120,000 in the SA16 and SA17 postcodes
There are few sales so of to speak, but good quality detached houses seem to be stubbornly priced out of kilter with local wage / incomes.
The autumn public sector cut should (imho) really set prices racing downwards in Wales
8. mark said...
tudorian
Wales is highly dependent on public sector jobs, so the cuts will be particularly severe for wales
9. titaniccaptain said...
Bore Da Tudorian
"The autumn public sector cut should (imho) really set prices racing downwards in Wales".........with 70% of the workforce in Wales in the public sector there could be quite a fall.....but I had a chat with Jack C yesterday and there is also the government funded building projects that are being shelved which will knock the private sector for six........
Not just building projects but also government funded infrastructure that needs maintenance will also hit the private sector hard.....
Carmarthanshire is a nice are but take a look at Pembokeshire.....its still quite resilient but there are some bargains to be found.
But if your looking for coastal beauty bargains look more on the north west stretch of coast between Cardigan and Port Meirion....there are some real bargains but its quite a way from hospitals and other facilities.
I was lucky in that after dropping my house price by over 50% from peak that I found someone else prepared to do the same in a stunning area.....
I bought east of Brecon and I am blown away by the area..........I went looking for 'The Shire' and I ended up with Rivendale....
Lovely properties in that area (East of Brecon) and very negotiable......lots of properties been on teh market for over 2 years not shifting....take a look at this house just come on the market in Crickhowell.
http://www.homesonview.co.uk/Scripts/ShowProperty.asp?css=hov&CompanyID=CLEECRIC&AgencyID=CLEECRIC&ID=CRP00321
On peak it would have been valued at around £350,000...........
10. Keef319 said...
Grrrr, it angers me SO much!!! I HATE the Express!!
How can this be FRONT PAGE NEWS!?!?!?!?
Funny though that the Metro has the "Double dip fears for house prices" headline on their front page...lol. But not in the Daily Mail...
11. sibley's love child said...
@ MW Quite, although i'm sure they'll be able to inflate their debts away with the massive wage inflation that's surely in the pipeline; I mean, good god man, the quarterly GDP figures were revised upwards...That's got to stand for something hasn't it. Hasn't it?
As an aside, SBC? I think I can guess what the 'B' stands for - I may well amend my username accordingly....
12. mark said...
comparing house price peaks with prices now is like saying a mars bar in 1820 cost two turnips, they are only worth what a market will sustain and the people will pay.. there is no guarantee they will ever go up again.
if you only had two carrots then you couldnt buy a mars bar instead you bought some smarties instead..
13. tudorian said...
thanks tc
I've always found Wales to be beautiful and the people friendly (yes, even to a saesneg!)
I'm hoping to relocate / downsize my business from bristol and the west wales coast ticks all boxes.Good luck in the new house
ps keeping on the LOTR themes, isn't Port Talbot known locally as Mordor?
14. sibley's love child said...
Mark, what if there was an engineered shortage of turnips due to strict agricultural laws and the over-provision of gardening utensils; what effect would that have on carrots?
What site am I on again?
15. titaniccaptain said...
@Mark I think comparing prices between 2007 and now is very useful to establish why prices in some areas are falling faster than others.....i.e. why is it that in excellent areas in Wales where there is less of a reliance on the public sector prices are still falling fast?
Granted in the South Wales Valleys areas where there is high dependency on the public sector prices are in free-fall but that has little baring on areas where the property market has been held up traditionally by people retiring/investments from the south east of england.
16. mark said...
I personally think many people moved to wales because house prices have been cheaper than england, however they either find they overstretched themselves so they could get that acre of land or they found the infrastructure is so poor, cost of traveling to their jobs in england, lack of broadband etc they want out..
17. titaniccaptain said...
@Tudorian
I am also a Saesneg with Welsh envy lol.
Quite strange you make the comparison of Mordor....
The view I have of the back of the Brecon Beacons is one of the finest views I have ever seen period but beyond the beacons sits Merthyr Tydfil (Where I used to live) and there is a great sense of Merthyr being Mordor.....
Port Talbot is indeed a dump.....I had a very very beautiful girlfriend from there and I every time I went down to visit here I felt like the very life was being drained from me......not a place I would live even for a six figure wage packet......
18. titaniccaptain said...
Agreed Mark but that is part of the charm for many people like myself......the only thing I want to be within half an hour of is a hospital for obvious reasons.
If you live within 5 miles of a market town you will be fine for broadband.
There are major towns in Wales that I recommend you stay close to (Within 5 miles) if you wish to enjoy the best of both worlds (Country/town)....
Brecon.
Abergavenny.
Haverford West.
Carmarthen.
Aberystwyth.
Fishguard.
Caernarfon.
Llandudno
Bangor
Welshpool
Newtown.
Cardigan.
Llangollen.
St Davids.
Porthmadog.
19. mark wadsworth said...
@ Sibley's - SBC was my complete mistyping of SLC. Dunno how that happened.
20. titaniccaptain said...
"SBC was my complete mistyping of SLC. Dunno how that happened."..............you pressed the wrong key perhaps?
21. titaniccaptain said...
@Tudorian
Don't know if this will work but this is the view......
22. titaniccaptain said...
Mordor Tydfil 17 miles beyond the mountains lol
23. sneaker said...
Good to see the ever-reliable Express firmly grounded in the real world
24. brickormortis said...
The application of averages based on skewed data to a more global set is fantastic for making everyone feel rich.
25. brickormortis said...
I tell you that in West Mids, Shropshire and Staffs there has been no rise in price of a detached house.
26. mark said...
all i can see are sheep, where are the roads, cars, tescopolies and hoodies?
27. titaniccaptain said...
"all i can see are sheep, where are the roads, cars, tescopolies and hoodies?"................in england :-)
28. sibley's love child said...
No problem MW; i'm not at all precious about some bloomin' username. Would have been rather inventive had it been intentional; adds a certain edginess to it...
29. jack c said...
@ titaniccaptain - The Brecon Beacons where the men are men and the sheep are nervous !
30. titaniccaptain said...
@Jack C.......
Indeed it is a terrible place....but I think I can get used to it :-)
31. mark said...
wellies with extra leg holds on front..lol
32. hpwatcher said...
There is a terrible magenta cast on that picture (above); was it a digital or was it from a slide?
33. titaniccaptain said...
@HPW
Iphone.......cr@p pictures....
34. timmy t said...
TC - sure you're not just seeing it through rose tinted spectacles!?!
35. mark said...
more like Dame Edna Everage glasses "blue tint"
36. titaniccaptain said...
It is the glow of the pink sun that shines over Wales.....'Pink sky at night Graham Norton's delight'.....
37. tom101 said...
Looks great. Well done TC!
38. sibley's b'stard child said...
@ MW
Mwa-ha-ha
With thanks to 'D' of the Webteam....
39. Mad_maxx said...
Funny that they've disabled have your say. Probably something to do with the posts they've had on their previous HPI ramping articles. Don't want the sheeple to see the truth per chance?
40. Si_wrexham said...
tudorian said..I've always found Wales to be beautiful and the people friendly - Have you come to Wrexham mate? Its not the pleasantest of places!
41. hash browne said...
Anyone noticed there are 2 different versions of this article on the Express website?
You can comment on this one....
http://www.express.co.uk/posts/view/196890/House-prices-up-91-a-day
Sibley's on the case as usual!