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Will There Be No Change In Price Till 2011?

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Looking @ the selling prices on houseprices.co.uk in detail for my area in Bristol, it seems that the big jump was in 2000-2001 (+ 40%) but since then for the last 5 years I am seeing only 4-5% a year gains in prices, and everything is now static with no change for the last year in prices, if this no change continues for an other 5 years we will be back on track as if prices rose 4-5% a year from 2000 -> 2011, this seems the most likely to me unless there is a big financial shock to the UK as people seem to be just staying put.

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http://www.home.co.uk/guides/house_prices_...istol&all=1

average price in bristol, april to april YOY, the price has more than doubled since 2000.

April 2000 = £93,905

April 2001 = £108,150

April 2002 = £129,699

April 2003 = £156,510

April 2004 = £167,521

April 2005 = £178,145

April 2005 = £182,931

Percantages april to april, prices slowed in 2004

2000 -> 2001 = 15.17%

2001 -> 2002 = 19.93%

2002 -> 2003 = 20.67%

2003 -> 2004 = 7.04%

2004 -> 2005 = 6.34%

2005 -> 2006 = 2.69%

However Jul 2004 to Jun 2005 saw a 3% fall, so prices were level/falling

for one year, average prices have now risen past there 04 peak :(

Edited by moosetea

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Looking @ the selling prices on houseprices.co.uk in detail for my area in Bristol, it seems that the big jump was in 2000-2001 (+ 40%) but since then for the last 5 years I am seeing only 4-5% a year gains in prices, and everything is now static with no change for the last year in prices, if this no change continues for an other 5 years we will be back on track as if prices rose 4-5% a year from 2000 -> 2011, this seems the most likely to me unless there is a big financial shock to the UK as people seem to be just staying put.

Cant argue with Mooseteas figures!

So fairly big rises (15 to 20%) up to 2003 and then much smaller (3 to 7%).

Why do you think there will be "no change for another 5 years?"

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Those figures are the whole of bristol, so not much use as there is such a mix, I am looking in a small area that I want to live in, I currently rent there so know the market very well. And for the last year every house that has come on sale has started high dropped 5% then been snapped up straight away, there seems to be a level that people can afford, so to me in my area nothing has changed since 2001 house go up by 4-5% a year since then but so does my pay.

As for the five years of static prices:

Interest rates climb very slowly (Should drop prices), but people also get pay rises (people can afford more) the affordabilty will stay the same and sheeple seem to always buy to there limit so prices will stagnate.

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Those figures are the whole of bristol, so not much use as there is such a mix, I am looking in a small area that I want to live in, I currently rent there so know the market very well. And for the last year every house that has come on sale has started high dropped 5% then been snapped up straight away, there seems to be a level that people can afford, so to me in my area nothing has changed since 2001 house go up by 4-5% a year since then but so does my pay.

As for the five years of static prices:

Interest rates climb very slowly (Should drop prices), but people also get pay rises (people can afford more) the affordabilty will stay the same and sheeple seem to always buy to there limit so prices will stagnate.

As you know the market for this bit of Bristol well, you are perfectly placed to decide whether to rent or buy.

You can figure out whether buying now with static prices for say the next 5 years is better than renting for 5 years then buying.

If the decision to buy or rent is based purely on money per month then that answer must be fairly easy to find too.

If you dislike renting for other reasons (don't like moving every couple of years / want to have a place of your own) then these are other things to factor in.

IMO if you know the market well then buy low, sell high - you can't go wrong.

Good luck

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but people also get pay rises (people can afford more) the affordabilty will stay the same and sheeple seem to always buy to there limit so prices will stagnate.

Some countries have been going through austerity measures since the 2001 mini-recession with the end effect that wages have remained static for many years now (actually the UK should have gone into one then, but Brown stimulated a smoke-and-mirrors boom based on debt and rising house prices).

What makes the UK think it is so special that it can keep giving pay rises of 4-5% percent and still remain competitive (not to mention inflation)?

Many of the so-called service jobs are perfect for outsourcing to India or anywhere where someone has the requisite skills. And surely the wave of immigrants (many of whom are pretty skilled) must have a downwards pressure on wages.

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house prices in Bristol are utterly ridiculous. I tried to but twice in 2004 and both fell through, both were 1 bed flats that were on at £98k and £99,950k. For a 1 bed flat in the same area now you have to pay £120k+.

i can't afford an extra £20k. And any areas that are cheaper are grotty as hell (the areas where i wanted to buy aren't the nicest either but i didn't mind)

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Some countries have been going through austerity measures since the 2001 mini-recession with the end effect that wages have remained static for many years now (actually the UK should have gone into one then, but Brown stimulated a smoke-and-mirrors boom based on debt and rising house prices).

What makes the UK think it is so special that it can keep giving pay rises of 4-5% percent and still remain competitive (not to mention inflation)?

Many of the so-called service jobs are perfect for outsourcing to India or anywhere where someone has the requisite skills. And surely the wave of immigrants (many of whom are pretty skilled) must have a downwards pressure on wages.

The way i see it, I must get an inflation payrise to stand still eg. 2.5% and any other on top eg 2.5% is because I have done a good job, If you don't get the inflation part of the payrise I would look for an other company to work for, as if the company can't afford the 2.5% its most likely going bust anyway.

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house prices in Bristol are utterly ridiculous. I tried to but twice in 2004 and both fell through, both were 1 bed flats that were on at £98k and £99,950k. For a 1 bed flat in the same area now you have to pay £120k+.

i can't afford an extra £20k. And any areas that are cheaper are grotty as hell (the areas where i wanted to buy aren't the nicest either but i didn't mind)

I thought you already had a place? I'm just buying now and it's not the best location, size or even anywhere near my idea of an ideal place to live. But it's somewhere that I'm happy to make do with for now.

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I thought you already had a place? I'm just buying now and it's not the best location, size or even anywhere near my idea of an ideal place to live. But it's somewhere that I'm happy to make do with for now.

nope, when those 2 properties fell through i gave up for a bit due to stress and trying to save back the money i lost...by the time i returned to the market 6 months later prices had risen enormously pricing me out.

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nope, when those 2 properties fell through i gave up for a bit due to stress and trying to save back the money i lost...by the time i returned to the market 6 months later prices had risen enormously pricing me out.

Why did the sales fall through?

Just asking because we often get the impression on here that sales fall through because buyers pull out.

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Prices have gone up a lot this year in the area I am looking in (about 10% increase), I am told that there are lots of investors buying. I cant understand why though, 2 bed houses seem to be going for around £165k but they only rent out at £650 per month, there is little or no chance of making any money from the rent after agents fees etc.

Edited by 50:50

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Why did the sales fall through?

Just asking because we often get the impression on here that sales fall through because buyers pull out.

the first fell through because the seller asked(nay, demanded!) for £10k more 2 weeks before completion (on a £99,500 flat!), so i told him to stuff it ( i didn't have the money and wasn't going to be held ransom, unbelieveable being gazumped by the seller!)

the second fell through because when the survey came through there was severe damp on 3 of the 4 main wallls (the vendor had just plastered over the top to try and disguise it) and 2 quotes for damp proofing came back at around £10k! so i had no choice but to pull out.

so i did pull out of both, but with seriously good reasons. The 1st flat took an extra 6 months to sell and the 2nd( a basement flat) is still for sale 2 years later (but as a whole 4 storey house now)

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the first fell through because the seller asked(nay, demanded!) for £10k more 2 weeks before completion (on a £99,500 flat!), so i told him to stuff it ( i didn't have the money and wasn't going to be held ransom, unbelieveable being gazumped by the seller!)

Good for you, not submitting to blackmail.

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nope, when those 2 properties fell through i gave up for a bit due to stress and trying to save back the money i lost...by the time i returned to the market 6 months later prices had risen enormously pricing me out.

Sorry to hear that. My first planned purchase fell through too. I'm now hoping the second will be smoother. At least on the first I didn't lose any money. If the 2nd falls through I'll probably need to take a breather too.

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  • 301 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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