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English House Prices Past 2008 Peak

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http://www.theguardian.com/money/2013/sep/17/house-prices-london-south-east

Government-backed measures to boost mortgage lending have helped roll back a five-year depression in house prices after official data revealed that the property market in England is now above 2008 levels.

The Office for National Statistics said its English property price index had passed its previous peak five years ago after hitting 182.4 in July, standing 0.9% higher than in January 2008. George Osborne's Help-to-Buy scheme and the Funding for Lending programme have spurred a revival, triggering warnings from within the coalition government – led by business secretary Vince Cable – of a volatile asset bubble.

The ONS reported the average cost of a UK home has risen to £245,000, up 3.3% on July last year. In England the increase was 5.4% year-on-year to £255,000, with the London market maintaining its status as the market powerhouse. The average cost of a home in the capital now stands at £438,000, up 9.7% year-on-year, with increases of 2.5% in the south-east and East Midlands.

Looks like foreign buyers are pricing out the locals down south. Still looks like the UK housing depression is over.

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http://www.express.co.uk/news/property/430258/Property-values-reach-record-high-as-house-prices-rise-by-11-000

Property values reach record high as house prices rise by £11,000

HOUSE prices are booming to record highs as they recover all the ground lost in the financial crash.

Our favourite VI take on it.

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Strange that the land registry of ACTUAL sale prices doesn't confirm the MADE UP sale prices in the media.

The London figures and the new build sale government backed mortgages must be skewing the statistics. I feel sorry for the people buying into this.

This is (another) one for the propaganda thread.

Are these foreign buyers all Syrian by any chance ? I only ask as our bankrupt, minority government seem more bothered about helping them than the sorting out the issues faced by the British people.

Edited by TheCountOfNowhere

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Strange that the land registry of ACTUAL sale prices doesn't confirm the MADE UP sale prices in the media.

This is (another) one for the propaganda thread.

Are these foreign buyers all Syrian by any chance ? I only ask as our bankrupt, minority government seem more bothered about helping them than the sorting out the issues faced by the British people.

Have we got one? I think it's about time we had one if we don't.

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Have we got one? I think it's about time we had one if we don't.

Progaganda

I could almost have predicted these headlines. Maybe the thread should have been called Banker/State Housing Propaganda...for that is what it appears to be to me.

It would be comical if it wasn't so very wrong.

Edited by TheCountOfNowhere

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London +9.7%

South East +2.6%

East Midlands +2.4%

South West +2.1%

West Midlands +2.0%

Northern Ireland +1.8%

Eastern England +1.4%

Yorks and Humber +0.5%

North West -0.7%

Wales -0.7%

North East -1.3%

Scotland -2.0%

London skewing the figures....EVERYWHERE else dropping in real terms......

London is about to pop.....

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Sooo, London..

Are we being out bought by foreigners, or are locals refusing to get sucked in to one of the greatest bubbles in malinvestment history?!

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Sooo, London..

Are we being out bought by foreigners, or are locals refusing to get sucked in to one of the greatest bubbles in malinvestment history?!

I don't see why foreigners and rich people are stupid enough to buy into this.

Rich people tend to be rich for a reason, so it strkes me over paying for a flat in inner city london makes no sense.

Young British sheeple on the other hand.....

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London +9.7%

South East +2.6%

East Midlands +2.4%

South West +2.1%

West Midlands +2.0%

Northern Ireland +1.8%

Eastern England +1.4%

Yorks and Humber +0.5%

North West -0.7%

Wales -0.7%

North East -1.3%

Scotland -2.0%

London skewing the figures....EVERYWHERE else dropping in real terms......

London is about to pop.....

Do you notice that the closer you get to London the more the figures are dragged up. I reckon this is from people cashing in on central london prices and moving out to commutable areas. I see this in Northampton, the train in London is packed, despite the rail fares and better decent houses have sold at 2007++ prices.

I maintain that when London pops the whole market collapses.

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With the government's housing policy in a complete mess, and no viable solutions coming from the opposition, it's no surprise to see the latest efforts to blow a new lets-win-the-election housing bubble baring some fruit.

"Government-backed measures to boost mortgage lending have helped roll back a five-year depression in house prices after official data revealed that the property market in England is now above 2008 levels." The guardian reports. It's strange to call a minor 'return to norm' a depression. It was only after a complete and unsustainable explosion in lending and credit expansion that it was possible for prices to reach the levels seen in 2008, a credit expansion which brought the entire planet to the brink of total economic collapse, and now we have a major broadsheet describing the deflation of this monstrous anomoly as a 'depression'.

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With the government's housing policy in a complete mess, and no viable solutions coming from the opposition, it's no surprise to see the latest efforts to blow a new lets-win-the-election housing bubble baring some fruit.

"Government-backed measures to boost mortgage lending have helped roll back a five-year depression in house prices after official data revealed that the property market in England is now above 2008 levels." The guardian reports. It's strange to call a minor 'return to norm' a depression. It was only after a complete and unsustainable explosion in lending and credit expansion that it was possible for prices to reach the levels seen in 2008, a credit expansion which brought the entire planet to the brink of total economic collapse, and now we have a major broadsheet describing the deflation of this monstrous anomoly as a 'depression'.

Yeah, you couldn't make this up.

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I don't see why foreigners and rich people are stupid enough to buy into this.

Rich people tend to be rich for a reason, so it strkes me over paying for a flat in inner city london makes no sense.

Young British sheeple on the other hand.....

50% are cash bought are they not?! How many young Brits have £200-500k sitting in their pockets?!?

However global parasite sorry entrepreneurial speculators who enjoys 0% interest borrowing and zero risk aversion will always be ready to take a punt. Plenty of rich people get fubar'd in bubble induced greed fests.

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faisalislam (Faisal Islam)

130k-year professional 'cant afford to buy' calls for tax on foreign buyers. comment on FT h-price splash http://t.co/T01lvGINYf

9:16 AM Sep 18th via Photos on iOS

faisalislam (Faisal Islam)

130k-year professional 'cant afford to buy' calls for tax on foreign buyers. comment on FT h-price splash http://t.co/T01lvGINYf

9:16 AM Sep 18th via Photos on iOS

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50% are cash bought are they not?! How many young Brits have £200-500k sitting in their pockets?

Actually it's funny that you mentioned it, but I just found £1 million in my pocket that I'd completely forgotten about!

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