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House Prices 'rose By 8.5%' In 2014, Halifax Reports

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http://www.bbc.co.uk/news/30610781

House prices 'rose by 8.5%' in 2014, Halifax reports

UK house prices rose by an average of £16,000 - or 8.5% - in 2014, according to the mortgage lender Halifax.

The research, based on data from its own lending, suggests prices in Greenwich in south east London surged by almost 25%.

Policymakers have warned of the dangers of a housing bubble developing.

The government insists the Bank of England has the tools it needs to prevent such a problem. (right)

The Halifax says the average UK home now costs £209,428, although data from other lenders and official sources differ.

It says nine out of the 10 areas with the biggest rises this year are in London.

The only place in the top ten not in the capital is Crawley, West Sussex.

Outside southern England, property values in Sheffield underwent the biggest uplift, with a 13.7% rise.

Craig McKinlay, mortgage director at Halifax, said: "Continuing improvements in the economy, rising employment and low mortgage rates will no doubt have supported housing demand and, combined with a shortage of homes coming on to the market, will have contributed to rising property values."

At the other end of the table are towns and cities in the north of England, the West Midlands, Wales and Scotland.

Property prices in Bury, Greater Manchester, fell by 4.8%.

> Chart to piss those renting off <

"Several of the towns experiencing price falls in the past year are still suffering from relatively weak employment conditions, which may have had an adverse impact on their local housing markets," said Mr McKinlay.

Recently the Business Secretary Vince Cable warned of house prices "getting out of control".

The Bank of England governor Mark Carney told MPs in September that "we do need to be vigilant" on house prices.

Chancellor George Osborne has previously said the Bank of England has the powers to prevent a boom and bust in the housing market.

Data suggests increases in property prices have been slowing down over recent months.

Last week the Royal Institution of Chartered Surveyors predicted property prices across the UK would rise by an average of three per cent in 2015 with no growth in London.

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The BBC are pushing this story.

Asking prices thirty percent above the banking system destroying levels with low interest rates and government backed deposits and they see no bubble.

These people are either corrupt, stupid or delusional.

Take youp pick.

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The BBC are pushing this story.

Asking prices thirty percent above the banking system destroying levels with low interest rates and government backed deposits and they see no bubble.

These people are either corrupt, stupid or delusional.

Take youp pick.

All of the above..... :rolleyes:

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The joy of being richer, my house soon will be more hard working than me. At that point I can live of it's earnings.....

Look on the bright side...with london tanking that 8% will be -8% by june.

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I'm seriously starting to think that we will not get a housing crash until the last of the baby boomers die off. I mean the majority of voters are over 50 and this demographic holds the most private property. These are the people the current crop of Politicians have to please in order to get into power each General Election. The majority that did not buy property before 2001 I think will be Renters most of their lives and it is their kids and grand kids that will own property st s young age. Think about it, Baby boomers die, pass the property onto their kids. The kids don't care what they can sell it for, they got it for free. Only then will we see inflation adjusted property prices slashed massively.

Edited by Renewed Investor

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And 110% of that 8.5% national rise was concentrated in the southeast (luckily for me anyway). Southwest Devon/cornwall still at 2004 prices which is still far too high, but nowhere nea the sheer insanity of Londinium.

It will be a pleasure to watch London & the southease implode with the rest of the country cucked in to the debt vortex.

I just wonder what schemes will be introduced? And how can I make money out of them?

The legislation to confiscate bank deposits is in place. The government are on the hook for the gamblaers (banks) debts, so all the peices are in palce for a good olde economic crash. I wonder what they will let fall this this, will it be real estate, stocks, wages or cash via printing?

Would love to get in at the beginning and short the feck out of it this time. I reckon PM's are looking luike a decade long shure bet.

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And 110% of that 8.5% national rise was concentrated in the southeast (luckily for me anyway). Southwest Devon/cornwall still at 2004 prices which is still far too high, but nowhere nea the sheer insanity of Londinium.

It will be a pleasure to watch London & the southease implode with the rest of the country cucked in to the debt vortex.

I just wonder what schemes will be introduced? And how can I make money out of them?

The legislation to confiscate bank deposits is in place. The government are on the hook for the gamblaers (banks) debts, so all the peices are in palce for a good olde economic crash. I wonder what they will let fall this this, will it be real estate, stocks, wages or cash via printing?

Would love to get in at the beginning and short the feck out of it this time. I reckon PM's are looking luike a decade long shure bet.

this is one of the reasons i'll be looking to buy during the pre-election lull

some of my relatives had their savings in cyprus almost completely wiped out

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this is one of the reasons i'll be looking to buy during the pre-election lull

some of my relatives had their savings in cyprus almost completely wiped out

I will hold my hands up and say that were looking to complete on a house in January. Were not looking to move 'ever' again - I have moved over 24 times since I was 16 and i'm now 35 and planning to start a family once the house completes. Prices here in Somerset are at 2004/5 prices, I would like them to be lower, but there not! We haven't been feckless and borrowed as much as we can, we have settled on a place that will be suitable for the long terms and is 5 miles from the current place or work, One of the bigger issues for us is that since were less than 50% LTV it's 50% less per month to buy, but then I want to buy rather than rent for 6 months at a time.

My decision and I will deal with the consequences. Currently the 1.99% tracker looks appealing, but it's also the long term security issue and having a permanent home for my family and pets. The value is more than monetary to us.

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", combined with a shortage of homes coming on to the market, will have contributed to rising property values."

The mortgage director was quoted with the above. Shortage of homes likely will be a relationship to mortgages sold so this isn't particularly great news for banks.Their clearly isn't enough mortgage business to go around.

I visited a Barclays branch today and all the staff had been replaced with machines.

Edited by Ash4781

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I will hold my hands up and say that were looking to complete on a house in January. Were not looking to move 'ever' again - I have moved over 24 times since I was 16 and i'm now 35 and planning to start a family once the house completes. Prices here in Somerset are at 2004/5 prices, I would like them to be lower, but there not! We haven't been feckless and borrowed as much as we can, we have settled on a place that will be suitable for the long terms and is 5 miles from the current place or work, One of the bigger issues for us is that since were less than 50% LTV it's 50% less per month to buy, but then I want to buy rather than rent for 6 months at a time.

My decision and I will deal with the consequences. Currently the 1.99% tracker looks appealing, but it's also the long term security issue and having a permanent home for my family and pets. The value is more than monetary to us.

Good luck with that move. I'm on a knife-edge of joining you, although it will require moving quite far outside of the Londinium I am used to! I'm getting old and I hate dealing with LL's, plus rents in London are rising too fast (and people are still paying it! How!). Although for the sake of waiting a little longer, I may try renting in an area I could afford to buy in and make sure I can handle the change! :) Of course if I find somewhere very cheap to rent, with a good LL, I would carry on renting til I die!

Edited by renting til I die

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", combined with a shortage of homes coming on to the market, will have contributed to rising property values."

The mortgage director was quoted with the above. Shortage of homes likely will be a relationship to mortgages sold so this isn't particularly great news for banks.Their clearly isn't enough mortgage business to go around.

I visited a Barclays branch today and all the staff had been replaced with machines.

They do seem to smile more often! :P

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The average house last years earned 27k, the average worker earned 27k, and the house pays no tax. Still there is no bubble and while we need 'emergency' interest rates and wages rising at 1% property prices can rise by 10% per year. No one in any of any the major parties (ConLabLibUKIP) see any problem with this situation, none of them has even questioned if the above numbers could be a problem, they all see the current scenario as an ideal way to move into the future and seem to think this is the new paradigm.

Noone I spoke to over Christmas dinner saw this being a problem either. I am getting spoken to, more and more, like I'm a wild haired crazy who lives in a cave! Feeling very much like 2006 again! :huh:

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Noone I spoke to over Christmas dinner saw this being a problem either. I am getting spoken to, more and more, like I'm a wild haired crazy who lives in a cave! Feeling very much like 2006 again! :huh:

Sounds like desperation to me. I agree, it really does feel like we are about to turn the corner, and I expect a few more bankruptcies to follow Citylink in January.

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buy now or lose out

Not everywhere...... Thousands are buying/downsizing to better homes in better places....their gain other overpriced, oversold, and overated loss.

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BBC Propaganda Machine out in full force today:

http://www.bbc.co.uk/news/uk-30613957

Tourists to UK 'to spend record levels in 2015'

Spending by tourists visiting the UK is expected to reach record levels next year, the government has said.

Spending by overseas visitors will top £22bn for the first time, according to forecasts by tourism body VisitBritain.

Tourists spent £21bn in 2013, while this year's total is forecast to be about £21.3bn.

There has also been a surge in the number of Chinese tourists and the amount they are spending. They spent £492m in 2013, up from £184m in 2010.

Over that period, the number of visits from Chinese people rose by 79.1% to 196,000.

Overall, the number of visits by people from overseas is expected to increase next year, with 35.1 million trips expected - up 2.5% on this year and compared with 29.8 million in 2010.

In 2010, the total spend from overseas visitors was £16.8bn.

'Attracted by Downton'

Tourism has grown at a faster rate than other industries since the end of the recession and is one of the UK's main export earners.

In June, VisitEngland highlighted a gap between the growth in visits to London, which it said were up 14% since 2008 - and those to the rest of England, down 4%.

But Tourism Minister Helen Grant said that as well as major London attractions, tourists were keen to see Premier League football matches, Bicester village in Oxfordshire and Stratford-upon-Avon.

She told the BBC: "Americans continue to visit, they spend most money and they've been attracted by [television] programmes like Downton Abbey and Sherlock Holmes."

The UK is also encouraging more visitors from Mexico to visit Britain in 2015 - which the countries' governments have designated the Year of Mexico in the UK and the Year of the UK in Mexico - as both look to showcase their best culture, arts and creative industries.

The number of visits by Mexicans climbed from 67,000 in 2010 to 108,000 in 2013.

Americans part with more money than any other nationality, spending £2.5bn in 2013, up 19.4% on 2010.

Spending by visitors from France (up 18% to £1.35bn) and Germany (up 18% to £1.4bn) also grew strongly in the four years to 2013.

The French visit Britain the most, with 3.9 million visits in 2013 while Germany is second, with 3.1 million visits in 2013.

'Great' campaign

GREAT - Britain's biggest ever tourism campaign - was launched in 2011 to promote Britain abroad ahead of the London 2012 Olympics.

Its aim was to attract 4.6 million more visitors, £2.3bn in additional visitor-spend, and £1bn of extra investment over the next four years.

VisitBritain chief executive Sally Balcombe said tourism would continue to be one of the country's major export earners.

"One of our priorities for 2015 will be to inspire international visits to the nations and regions and showcase Britain's magnificent countryside," she added.

"Our GREAT campaign continues to produce results and generated at least £1.8bn from inbound visitors in its first three years, creating economic value and jobs across Britain's tourism businesses."

Edited by cool_hand

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