Monday, Dec 11, 2006

Late 1980's fever all over again!

Telegraph: £300-a-day home price rise

House prices in London are rising at the rate of £300 a day, with the value of homes in the capital's most affluent areas more than £300,000 higher than a year ago, it was disclosed yesterday.

Despite a pre-Christmas dip in most of the rest of the country, prices in London increased by almost three per cent last month — adding £9,000 to the value of the average home in just 30 days.

High City bonuses and an acute shortage of good housing stock mean homes in Kensington and Chelsea are now selling for £350,000 more than this time last year.

Posted by tyrellcorporation @ 08:50 AM (489 views)
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9 Comments

1. Tangara said...

They probably don't know that the sea do rise & London is barely above sea level !!!

Monday, December 11, 2006 09:56AM Report Comment
 

2. Ilejustwait said...


I bought my 10ft sq shed in 1996 at a cost £125 with extras ( truth )

I think ile have my shed valued, it could be worth at least £10.000+ by now ( joke )

does anyone want to place a bid, offers over £10.000 only please ( joke )

and in a few years time ile give you back what its really worth £175, ( reality )

why am i giving you back an extra £50,

because a realistic increase is 40% ( reality )

youve been ripped off if you want to give me £10.000


Monday, December 11, 2006 10:05AM Report Comment
 

3. Bricksandmortarhaha said...

This is starting to get really depressing. How much longer can I keep telling my home-owning friend (who bought at just the right time - around 2001) that it would be crazy to buy now? Will this crash ever come? And if it does, will City bonuses make London immune?

I'm pushing forty, my partner and I both earn well above the average wage, yet the monthly cost of buying a two-bedroom flat in London gives me palpitations - especially in comparison to our rent. I was horrified at what 230,000 got you 18 months ago - what kind of hovel bedsit would it buy now?

I'm on a very secure rental contract and I'm not as obsessed with ownership as everyone I know seems to be, but the spectre of still paying market-rate rent in my seventies haunts me daily. I've been waiting so long to be proved right about the crash that I'm feeling very tired and frustrated by it all now.

Monday, December 11, 2006 10:17AM Report Comment
 

4. tyrellcorporation said...

Life is becomming simpler by the day!

A year ago I could have bought a house but chose not to. I am now still refusing to buy but for the simple reasons of I still wouldn't but also couldn't. Much to my amazement and those of most people on this forum the chances of owning your own home in Britain today is close to nil.

Bravo New Labour, social mobility is now at it's lowest since Victorian times and the gap between rich and poor is at it's widest for generations. No wonder a survey out today points to a doubling of those intending to bail out of the UK in the last 3 years.

Monday, December 11, 2006 11:41AM Report Comment
 

5. Chillilizard said...

300 pounds a day relative to what? - a million pound home - better to say house prices rise 60 a day relative to the average house.

I love journalists!!!!!! Talk about grabbing a headline.

60/day is still massive tho - but only for the rich areas.


Monday, December 11, 2006 12:58PM Report Comment
 

6. Ilejustwait said...

I bought my 10ft sq shed in 1996 at a cost £125 with extras ( truth )

I think ile have my shed valued, it could be worth at least £10.000+ by now ( joke )

does anyone want to place a bid, offers over £10.000 only please ( joke )

and in a few years time ile give you back what its really worth £175, ( reality )

why am i giving you back an extra £50,

because a realistic increase is 40% ( reality )

youve been ripped off if you want to give me £10.000

Monday, December 11, 2006 01:13PM Report Comment
 

7. monty said...

Ahh, once again I hear the thundering hooves of the fifth horseman of the apocalypse - HPI.

TC, don't you think you're being a tad melodramatic? I thought you'd be overjoyed at the prospect of snapping up one of those cheap houses abandoned in the mass scramble for the exits.

Sorry Gov'ner, must dash now - my five year old has another dozen chimneys to sweep before midnight.

Monday, December 11, 2006 03:14PM Report Comment
 

8. paul said...

As well you make joke monty. When your own kids come cap in hand to you to stump up £80K for a deposit for their first £500K one bedroom flat in 2020!

As I've said before a HPC is now the best case scenario for the UK.

Monday, December 11, 2006 05:25PM Report Comment
 

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