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Fairyland

To ask SDLT change will make upsizing easier

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AIBU to think SDLT will push up FTB type house prices towards £300K and bring down the £350K ish towards 300K.

Mortgage lending in the home movers group took a hit last few years - bbc article do you want to buy a home now

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3. This is not only a story of prices

The number of sales was 30% higher 10 years ago, so who is no longer buying? 

Many people already with a home and a mortgage have chosen to stay put, rather than buy somewhere bigger. Recent tax changes have also cut the numbers of buy-to-let investors. 

Number of sales by type of buyer

4. The housing ladder's rungs are further apart

Look at the difference in price when moving from a three-bedroom home to a four-bedroom one, and it is no surprise that many families have chosen not to move. Many may have spent their money on an extension instead.

A lack of four-bedroom family homes on the market has pushed up prices of this type of property. It means the cost of moving to a bigger house has stymied many people's dreams of moving up the housing ladder - perhaps to give the children their own room.

Cost of climbing the ladder by region

5. 

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14 minutes ago, Fairyland said:

Charts highlight gap between 3 and 4 bed homes but 2 and 3 bed gap is no good either.

That is why there are so many loft conversions.  Personally (although I had one) I don't think they are the most efficient way of increase housing stock, although that is gut feeling not one I have calculated.

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18 minutes ago, Andy T said:

For the north west, 148k difference seems unlikely. In a fairly expensive area I know it's more like 50 to 75k difference. 

I cannot even give you a figure in the areas i am looking in.

Prices are just made up in the main.

 

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I would concur, it looks wrong to me. An extra room would add on average 250 sqft to a house?

The price per sqft in London tops £1000 in nice places (excluding prime)

But for the other cheerleader that likes to jump at my throat, I can only accept the conclusion that the rungs have only gone further apart, especially the first one. 

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13 minutes ago, Freki said:

I would concur, it looks wrong to me. An extra room would add on average 250 sqft to a house?

The price per sqft in London tops £1000 in nice places (excluding prime)

But for the other cheerleader that likes to jump at my throat, I can only accept the conclusion that the rungs have only gone further apart, especially the first one. 

The problem with the chart is that if you look at outer london prices vary so much that the average price for outer london is a bit meaningless.  If my house were in Richmond it would be worth  £500k -£1 million more.

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Agreed, the other problem is the type of building. 

3bed is very common for a terraced, 4bed becomes more common on semi-detached, detached ? So the methodology is really not great...

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3 hours ago, Freki said:

I would concur, it looks wrong to me. An extra room would add on average 250 sqft to a house?

The price per sqft in London tops £1000 in nice places (excluding prime)

But for the other cheerleader that likes to jump at my throat, I can only accept the conclusion that the rungs have only gone further apart, especially the first one. 

Maybe the subdivision of space affects the £/sqft? A 2 bed 300sqft apartment is maybe worth a different amount to a 3 bed 300sqft apartment?

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  • 407 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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