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interestrateripoff

Wail avg property up 32% in a decade

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"New towns generally have seen house prices increase by nearly a third (32%) over the past 10 years, increasing by just over £55,500, from £173,337 in 2006 to £228,902 in 2016. "

Let's compare that with official inflation...

http://www.bankofengland.co.uk/education/Pages/resources/inflationtools/calculator/default.aspx

£173337 in 2006 would be worth

£230162.26

Inflation averaged 2.9% a year.

Edited by Paul77

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Interesting the top comments are all criticizing HPI , I think finally people are waking up to the situation .Wages are going no where whilst housing continues to rise.

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For reference, the S&P 500 is up 60% in the past ten years.

And the pound has lost 38% of its value (against the dollar) in the past 10 years.

Woo-hoo, we're rich!!!

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A house growing in value is worth nothing to the economy until it is lent against to release debt/cash or is sold and the funds are spent back into the economy.......your house may soon have to be used as a future income simply because houses are growing faster than many people's wages they work hard for every day......so what about those who have no home that earns them money or no job that keeps up with hpi......what will they live on in future when the money runs out.....Love?;)

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32% is for the very best performer, Milton Keynes, as far as new towns go.

Headline should read Milton Keynes hangs onto 2007 peak just and has flat-lined in real terms.

RPI December 2017 267.1/ December 2007 201.6 = 32% also.

Edited by crashmonitor

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Looks like the last decade was rubbish compared to the previous two

https://www.theguardian.com/money/2017/jan/23/uks-new-towns-surpass-national-average-for-house-price-growth

Halifax said that since 1986, property prices in Milton Keynes had surged by 601% to reach £309,415 on average, making it Britain’s top-performing new town over the last three decades.

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