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The 2013 House Price Boom

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  • Lack of new homes has led to buyers scrambling to buy property, pushing up prices by £14,000 on average this year
  • Despite deepest recession in history a flat or house in some areas is now double what it was in 2008
  • Winners are London, south-east and East Anglia, but Scotland, the North and Midlands suffer decline or stagnation
  • Experts believe prices will rise by eight per cent next year and by up to 30 per cent by 2018

article-2528362-1A44556900000578-240_964x504.jpg

Savills predicts that next year there will be a rise in prime properties, followed by a lull in 2015, before more sustained growth on homes worth in excess of £800,000 today

article-2528362-1A4454CD00000578-169_964x489.jpg

I just wonder, who can still pay the high prices. Link

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[*]Lack of new homes has led to buyers scrambling to buy property, pushing up prices by £14,000 on average this year

[*]Despite deepest recession in history a flat or house in some areas is now double what it was in 2008

[*]Winners are London, south-east and East Anglia, but Scotland, the North and Midlands suffer decline or stagnation

[*]Experts believe prices will rise by eight per cent next year and by up to 30 per cent by 2018

Winners.......really.

Wouldn't say anyone paying prices like that are winners, or anyone living in such an increasingly overpriced and overcrowded places are winning or will end up being winners. ;)

Edit to say.......driving around in terrible traffic congestion, London outskirts all l can see being built is massive blocks of flats one and two beds, all being shared ownership, how good is that?.....both rent to pay and mortgage to pay, all the costs with all the risks.....happy days.

Edited by winkie

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Winners.......really.

Wouldn't say anyone paying prices like that are winners, or anyone living in such an increasingly overpriced and overcrowded places are winning or will end up being winners. ;)

They've been winning for years, despite people constantly claiming buyers are victims. HPI year after year after year.

You still going to sing this tune about buyers not being winners if house prices are up by 30% in 2018? Bad enough with last 4 years of house price reflation, taking prices to new peaks, and so many people claiming buyers don't know what they're doing. Renters sure haven't been the winners, and for job reasons likely to also need to live in tightly packed metropolis / suburbs.

  • Lack of new homes has led to buyers scrambling to buy property, pushing up prices by £14,000 on average this year
  • Despite deepest recession in history a flat or house in some areas is now double what it was in 2008
  • Winners are London, south-east and East Anglia, but Scotland, the North and Midlands suffer decline or stagnation
  • Experts believe prices will rise by eight per cent next year and by up to 30 per cent by 2018

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Winners.......really.

Wouldn't say anyone paying prices like that are winners, or anyone living in such an increasingly overpriced and overcrowded places are winning or will end up being winners. ;)

Edit to say.......driving around in terrible traffic congestion, London outskirts all l can see being built is massive blocks of flats one and two beds, all being shared ownership, how good is that?.....both rent to pay and mortgage to pay, all the costs with all the risks.....happy days.

A friend phoned last night to say that they're going to buy using a help to buy AND a shared equity scheme!

I said nothing.

This has got to be the end...

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Looking back to about 1996 around the time of the bottom of the last recession in house prices (7 years after the 1989 peak) it was clear that many house prices were very cheap but there was little or no confidence in the housing market. Another 11 years on in 2007 of course it peaked - again- at about treble the previous peak.

Looking at the home page chart it appears that the UK might now (7 years on from the 2007 peak) APPEAR to be at a similar bottom to 1996 but the general market feeling seems to be quite different this time. It's more that houses are still extremely expensive but they can't fail to increase (they can't fail to increase not the opinion generally held on HPC of course - including myself HtoB effects etc excluded). So if the 18 year cycle is going to similarly repeat then in about 11 years time the next peak for average prices will be about 3 or 4 times the 2007 peak which would be about £500,000 to £800,000.

If that were to happen it will be interesting to see what psychological somersaults everyone will have to undergo to arrive at the next peak - from the current starting base of a boom psychology. Especially if the average UK wage stays around the £20,000 ball park.

By then would it even be possible for the UK to accommodate the level of debt implied which would be how many £trillions? - £50 trillions or something like that. They're already predicting about £10 trillions total debt by 2015.

http://

www.telegraph.co.uk/finance/economics/8118467/UKs-total-debt-forecast-to-hit-10-trillion-by-2015.html

£50 trillions of UK debt would imply US total debt of what? £200 trillions?

Edited by billybong

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Those house price weather images in the OP certainly weren't taken from the recent winter weather predictions made by the Daily Express.

and

CHRISTMAS DAY: SNOW IS ON WAY

http://

www.express.co.uk/ourpaper/view/2013-12-21

Edited by billybong

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