Tuesday, Oct 03, 2006

South-east house prices to 'soar by 40%'

Guardian: Average house prices in the South-east will soar to more than 322,000 in five years, according to new research.

Average house prices in the South-east will soar to more than 322,000 in five years, according to new research.

Posted by autopilotengage @ 05:30 PM (455 views)
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27 Comments

1. d'oh said...

And who exactly will be paying 13x salary for these properties? Or will wages have increased 50% by then?

Tuesday, October 3, 2006 05:42PM Report Comment
 

2. Surfgatinho said...

Why do they keep printing stories like this?! Do they know something the rest of us don't? Are they hoping for a self fulfilling prophecy? Or have they just extrapolated the HPI graph using a ruler?!

Tuesday, October 3, 2006 05:45PM Report Comment
 

3. The Capitalist said...

This report is by a VI - the social sector who are of course funded by HM Govt and whose raison d'etre is push for more low cost/social homes. They want more hysteria over house prices so they can demand more funding. It's a bit like Shelter - they need more homeless people, so they can grow as a business. If their 'client' numbers fell would they reduce in size?

We do not have a supplyof housing problem but a supply of credit problem (a credit bubble).

Tuesday, October 3, 2006 06:33PM Report Comment
 

4. Bubbles. . . said...

I cant believe this....How can it go on for so long??...The pain of the first time buyer the greed of the Estate Agents...The greed of the Bank..All VI's.Ever watched Wall Street with Michael Douglas "greed is good" look were that got him..How can people think this is sustainable...60% population work for the public sector is this the wage rises that the government workers want???? More tax for the private sector companies to provide! make provision in the private sector for your pension and get taxed again on that! To pay for there inflation linked ones!!! Maybe I should just fold our family business and go and work in the public sector seems the thing to do and vote Labour forever cos your job depends on it...
Please raise intrest rates by 0.25% Thursday........Please....

Tuesday, October 3, 2006 06:47PM Report Comment
 

5. Bubbles. . . said...

What if intrest rates rise?? What will be the story then??? Can this seriously still happen??

Tuesday, October 3, 2006 06:48PM Report Comment
 

6. Onyerhike said...

Probably not - but by then it will probably be possible for the sprogs to take over your mortgage where you left off. You sweat it for 40+ years to pay off 10% of it and then they take over. The more kids you have, the more you can borrow !

Tuesday, October 3, 2006 06:54PM Report Comment
 

7. sovietuk said...

If everything looks too good to be true that's because it is.

Tuesday, October 3, 2006 07:23PM Report Comment
 

8. Wadisgod said...

What a coincidence!

Thats exactly what some one told me about my flat back in 1988!!!!

Tuesday, October 3, 2006 07:45PM Report Comment
 

9. Jolo said...

excellent advertising, we need more of this to keep the interest rates rising. I wouldn't be surprised if the beeb pick up on this rubbish.

Tuesday, October 3, 2006 07:59PM Report Comment
 

10. sirgoogle said...

I would hate to pay the council tax in these areas as the Councils willneed to havily subsidise "key worker" accomodation - just to have some peoplein the area who actually do the work !

Tuesday, October 3, 2006 08:48PM Report Comment
 

11. bidin'matime said...

And us boffins at Oxford have designed a car that can accelerate to 60mph in 10 seconds, so we calculate that within five minutes of setting off, you'll be travelling at 1,800mph ...

Tuesday, October 3, 2006 08:48PM Report Comment
 

12. Hawkeye said...

Have we all gone mad? If the 1st time buyers can't get on the ladder let alone a hold on the side rail then this will likely cause a major
crash, which if the prediction is correct - major house repossessions and recession fall upon us all. A totally annoying and unnecessary report !

Tuesday, October 3, 2006 08:55PM Report Comment
 

13. sirgoogle said...

Bidin,

Good one.

Stunning research as ever from the VI media.

Tuesday, October 3, 2006 09:06PM Report Comment
 

14. Hawkeye said...

This is a very annoying and unnecessary report! Do the media think we are all stupid ! Give it up!

Tuesday, October 3, 2006 09:09PM Report Comment
 

15. the bald man said...

Housebuilders will not be happy until every part of the country is covered in houses. Who can possibly believe them?

Tuesday, October 3, 2006 10:07PM Report Comment
 

16. Zozozo said...

should we start serious common sense strike against that crazy political economical strategy... We are destroying our economys health.. Should concentrate on evil roots..

Tuesday, October 3, 2006 10:44PM Report Comment
 

17. talking rot said...

Wot worries me is that there are mugs out there who believe this sort of nonesense. Well, actually it doesn't worry me because when prices do fall, I'll be able to buy that 2-bedroom cardboard box under the embankment which I've always dreamed of.

I've been reading this site for 2+ years and feel the logic behind the arguements is good; but prices haven't fallen. So perhaps this article is right as it IS different this time around. I'll buy 7 of Bidin's cars at the same time and zoom around at 1200 mph on the M25 at rush hour too!

Sorry - rant over.

Tuesday, October 3, 2006 11:29PM Report Comment
 

18. talking rot said...

Being slightly more sensible, the concept that locals can not afford homes is not new. What is new is that, for the first time, this is effecting the SE. So why does the pricing-out-of-locals only make the mainstream news now?

Tuesday, October 3, 2006 11:44PM Report Comment
 

19. inbreda said...

Hawkeye said... "Do the media think we are all stupid ! "

No - just the majority.

Apparently that's all they need.

Tuesday, October 3, 2006 11:50PM Report Comment
 

20. Dontpanic said...

Theoretically house prices in the south east could rise to these average levels. I think what the report wanted to highlight, was the social and economic damage that would occur should average house prices reach anything like this type of level.Practically most of us recognize that this is abstract thinking, unless of course one imagines the south east ultimately becomes an area similar to say Cornwall, where in fact this prophecy has already occurred, in relationship to average earnings.

Wednesday, October 4, 2006 12:43AM Report Comment
 

21. markd said...

We had this in July see-

http://www.housepricecrash.co.uk/newsblog/2006/07/blog-econometrics-is-accurate-621.php

Its just a re-report of the same research (although it was 50%) before-complete rubbish.

Wednesday, October 4, 2006 08:18AM Report Comment
 

22. markd said...

Sorry, if the link above doesn't work then look in the news Blog archive on 17th July.

Wednesday, October 4, 2006 08:20AM Report Comment
 

23. george monsoon said...

I have noticed that in only a couple of months, there are some very strong feelings being expressed on this site, and that we are almost becoming an underground political movement. We are all praying for publicity around the issue of overpriced housing, so why not go public and start our own political campaign? We could call ourselves something like "the Commonsense party"

I am sure that we will recruit all the FTB's as voters straight away. Of course we won't take over parlament, but one seat in the house could get a lot of media attention if our policies are broadcast.

I volunteer for the job of "minister with crazy ideas... "

Wednesday, October 4, 2006 11:41AM Report Comment
 

24. talking rot said...

George

You'll get my help.

Wednesday, October 4, 2006 12:33PM Report Comment
 

25. devil's advocate said...

Would be happy to lend support.

Wednesday, October 4, 2006 12:55PM Report Comment
 

26. Cstanhope707 said...

Finally the VI propoganda has had to admit that people are starting to read the fine print. Remember the DE propoganda piece House Prices to Sour 40% in 4 years, your house is worth 56 a day more. You then read the article further and see that well its about 40% in London and around 15% everywhere else. They now can not get away with implying that all over the country will be a 40% increase.

Just think of it this way if the ymarket is so boyant as the VI's would have you believe why do they persist in this propoganda all the time, must be getting tough out there.

Wednesday, October 4, 2006 01:04PM Report Comment
 

27. autopilotengage said...

George - count me in, as "minister without BTL portfolio"!

Wednesday, October 4, 2006 06:34PM Report Comment
 

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