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Three-Bed Semi Will Cost £330,000 In Just Six Years (But If You Live In London The Average Home Will Set You Back £565,000)

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http://www.dailymail.co.uk/news/article-2685713/Three-bed-semi-cost-330-000-just-six-years-live-London-average-home-set-565-000.html

The price of an ordinary three-bedroom semi will hit £330,000 by 2020, economists have predicted.

An average semi-detached home rocket by almost £90,000 in just six years, while the same in London will be an eye-watering £565,000, a new report predicts.

The increase is a significant leap from the current figure of £242,000 for a three-bed home, and will add to fears of Britain being caught in the grip of an 'overheating' housing market.

Buy now before prices go UP!

It would appear we are looking for mugs to buy over priced property!

So value of property up by £90k and wages stagnating....

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Yup it is very likely but not in the way they expect.

Hyperinflation of all assets where a loaf of bread is a hundred quid and the pound collapses then a 330k house might only be worth 33k in todays money!

or

everyone I know could land 100k jobs instead of eeking out a shit existence with terrible part time jobs and throw all there cash into houses.

or

its just they sell more papers when they tell there moronic readership they are "richer" than they thought.

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http://www.dailymail.co.uk/news/article-2685713/Three-bed-semi-cost-330-000-just-six-years-live-London-average-home-set-565-000.html

Buy now before prices go UP!

It would appear we are looking for mugs to buy over priced property!

So value of property up by £90k and wages stagnating....

This is the part I don't get how can they keep going up with Wages going no where ...

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This is the part I don't get how can they keep going up with Wages going no where ...

Partly because of stories like this that tell people that houses can keep going up in value indefinitely.

It is amazing how many people will completely ignore the fundamentals when they are frightened of being priced out. Combine that with massive mortgages being talked about as if they are tiny and it gives people confidence to get involved.

Of course, if mortgages aren't available to take the choice away from them, that is a different matter....

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Partly because of stories like this that tell people that houses can keep going up in value indefinitely.

It is amazing how many people will completely ignore the fundamentals when they are frightened of being priced out. Combine that with massive mortgages being talked about as if they are tiny and it gives people confidence to get involved.

Of course, if mortgages aren't available to take the choice away from them, that is a different matter....

+1 that guy

The banks make it really easy to borrow money I know loads of folk earn half what I do in it with btl and there own house for hundreds of thousands. The public are morons bar the handful on here who think maybe borrwoing 300k while only earning 18k is perhaps a bad idea. I mean FFS my missus is a housewife and we totalled up one time she was offered over 100k in unsecured credit. I know people without jobs with 100k IO mortgages and while people blame the banks (who are evil) they can only play if there are willing participants.

Now they cant up interest rates becuase if they do there will be blood on the streets, its a downward spiral of stupidity and greed and unfortunately the people who clocked it will also suffer as they are part of the society too. the game got so stupid and out of control it has embroiled the whole econony and the gov cant do anything but kick the can further down the road and hope somehow this sh!t works out.

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Now they cant up interest rates becuase if they do there will be blood on the streets, its a downward spiral of stupidity and greed and unfortunately the people who clocked it will also suffer as they are part of the society too. the game got so stupid and out of control it has embroiled the whole econony and the gov cant do anything but kick the can further down the road and hope somehow this sh!t works out.

For me it is the MMR that should have had the fastest effect rather than interest rates. It just doesn't seemed to have happened yet, and I think they must be running scared.

We have already heard a few of the 'too little, too late' type arguments, like the suggestion that mortgages over £500k should be limited to 4 times income. No, ALL mortgages should be limited to 4 times income, if not less!

It is easy to see the reason they are scared to do it properly. Houses prices wouldn't just slump if they enforced these rules properly, they'd have to completely implode. They won't let that happen as long as they retain any control.

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The public are morons bar the handful on here who think maybe borrwoing 300k while only earning 18k is perhaps a bad idea.

...Now they cant up interest rates becuase if they do there will be blood on the streets, its a downward spiral of stupidity and greed and unfortunately the people who clocked it will also suffer as they are part of the society too. the game got so stupid and out of control it has embroiled the whole econony and the gov cant do anything but kick the can further down the road and hope somehow this sh!t works out.

Not everyone takes the position in this war that big debt-lovers are victims, with all their pathetic excuses why it's forever HPI, and even now, 2007-08 crunch all forgotten and back to population growth and too few houses and 'demand'.

The time to buy is when there is blood in the streets, so it is said.

Non-owners have controlled themselves under attack from not only the boom years, but all the followed by mega-QE/0.5%/FLS/HTB/buyer-victim-sob-stories. Debt victims and oh-so-complacent older VI home-owners who don't flinch from idea their homes worth many hundreds of thousands/millions of pounds don't have any standing to kick off, if prices crash, which doesn't require interest rate rises. Homeowners have made their own decisions and the majority would only suffer loss to fantasy equity. I guess it's only home-owners that some think matter, and to reward.

There's this place in Weston, similar to the pic in the Daily Mail.

http://www.rightmove.co.uk/property-for-sale/property-46305443.html

Looks like owner would like new buyer to kick up £45,000 more than they bought it for in 2003.

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=39612059&sale=10992497&country=england

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http://www.dailymail.co.uk/news/article-2685713/Three-bed-semi-cost-330-000-just-six-years-live-London-average-home-set-565-000.html

Buy now before prices go UP!

It would appear we are looking for mugs to buy over priced property!

So value of property up by £90k and wages stagnating....

The article also points to rising interest rates (though I have not read the actual report). I suspect this will be based on the MPC or FPC earnings projections.

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I don't want a life of debt servitude so I'll just say 'no thanks'. IF these prices did arrive I'm sure many others would say the same.

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I don't want a life of debt servitude so I'll just say 'no thanks'. IF these prices did arrive I'm sure many others would say the same.

I don't want a life of debt servitude so I'll just say 'no thanks'. IF these prices did arrive I'm sure many others would say the same.

The 'say no thanks' prices arrived long ago.

Except there has been years of forbearance and system stimulus for the victims who chose to meet those asking prices, to keep the outright owners in dreamland about the values of their homes.

Now followed the same old discredited ideas that HPI is the best, supply and demand = higher prices good, money never runs out to pay higher prices, no one will sell for less than it's worth.

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Not everyone takes the position in this war that big debt-lovers are victims, with all their pathetic excuses why it's forever HPI, and even now, 2007-08 crunch all forgotten and back to population growth and too few houses and 'demand'.

The time to buy is when there is blood in the streets, so it is said.

Non-owners have controlled themselves under attack from not only the boom years, but all the followed by mega-QE/0.5%/FLS/HTB/buyer-victim-sob-stories. Debt victims and oh-so-complacent older VI home-owners who don't flinch from idea their homes worth many hundreds of thousands/millions of pounds don't have any standing to kick off, if prices crash, which doesn't require interest rate rises. Homeowners have made their own decisions and the majority would only suffer loss to fantasy equity. I guess it's only home-owners that some think matter, and to reward.

There's this place in Weston, similar to the pic in the Daily Mail.

http://www.rightmove.co.uk/property-for-sale/property-46305443.html

Looks like owner would like new buyer to kick up £45,000 more than they bought it for in 2003.

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=39612059&sale=10992497&country=england

That place is walking distance to the hospital, nice end of the beach and the golf course, ideal if you're a consultant on £100k +

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There's this place in Weston, similar to the pic in the Daily Mail.

http://www.rightmove.co.uk/property-for-sale/property-46305443.html

Looks like owner would like new buyer to kick up £45,000 more than they bought it for in 2003.

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=39612059&sale=10992497&country=england

Their asking price represents a real terms drop of ~14% from the 2003 sale price...

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Not everyone takes the position in this war that big debt-lovers are victims, with all their pathetic excuses why it's forever HPI, and even now, 2007-08 crunch all forgotten and back to population growth and too few houses and 'demand'.

The time to buy is when there is blood in the streets, so it is said.

Non-owners have controlled themselves under attack from not only the boom years, but all the followed by mega-QE/0.5%/FLS/HTB/buyer-victim-sob-stories. Debt victims and oh-so-complacent older VI home-owners who don't flinch from idea their homes worth many hundreds of thousands/millions of pounds don't have any standing to kick off, if prices crash, which doesn't require interest rate rises. Homeowners have made their own decisions and the majority would only suffer loss to fantasy equity. I guess it's only home-owners that some think matter, and to reward.

There's this place in Weston, similar to the pic in the Daily Mail.

http://www.rightmove.co.uk/property-for-sale/property-46305443.html

Looks like owner would like new buyer to kick up £45,000 more than they bought it for in 2003.

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=39612059&sale=10992497&country=england

I certainly won't have too much sympathy when the inevitable eventually happens. I have been banging on for ages about the massive price increases in the last year. The fact that we are in bubble-on-bubble territory is clearly shown on the Zoopla adverts, so it is no-ones fault but your own if you buy into it.

SE London is the hotspot, and here is my current favourite example:

http://www.zoopla.co.uk/for-sale/details/33775271

The advert shows that the house was sold for £310k in November 2013 and after a basic refurb is back on for £700k only 9 months later. Anyone who pays over double what was already a high price in the first place surely has it coming to them.

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I don't want a life of debt servitude so I'll just say 'no thanks'. IF these prices did arrive I'm sure many others would say the same.

There's different stages of "no thanks". There are the people that understand the implications of too much debt, the real cost of housing, how mortgage interest really works, and how much of their life energy if would take to service the debt, or even the unthinkable - negative equity. The new entrants to "no thanks" are people that now find themselves unable to earn or borrow enough to mortgage a property even if they desperately want to land themselves unwittingly in the deep sh*t. I do feel quite positive about having reached the final stages of "no thanks". The areas I'm tracking on Rightmove (Greater London/Suffolk) are showing very little going Under Offer doing a 14 day new listings search. The prices might still be mad but the buyers are less so. Even one of the biggest property bulls in the office said his mate was selling off his London BTL's and actually had a go at convincing me we'd reached the top.

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I don't know what they call the 'average' London home. 2 bed Victorian/Edwardian flats in Tooting - hardly the most fashionable area - are already being priced at £500K+. Though just recently I have seen some marginally less delusional pricing. A lot of properties have come on the market in the past week or two - I definitely sense a rush to sell before the daft-price boat is missed.

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