Monday, January 29, 2007

House Prices to Rise at £1,000 a month

House Prices to Soar Again

House prices to rise at £30 a day over the coming year. Will this ever end? It may be spin, but I begin to wonder? Is it?

Posted by auntie @ 07:53 AM (557 views)
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24 thoughts on “House Prices to Rise at £1,000 a month

  • The Daily Express usually comes out with these big bold brash headlines.

    Unfortuntaely a rise of £30 a day is probably about spot on. They correctly predicted a big rise in 2006 which many other many such as the Telegraph didn’t.

    I have a horrible feeling that they are going to be correct.

    If a housing slowdown doesn’t happen soon, young people in this country are just going to pack up and leave. The recent University graduates of this country are just not going to be able to afford their University debt plus a mortgage and I predict many will just leave in droves.

    It is a complete herd mentality yet is has become ingrained in the British people. People ‘expect’ houses to rise by at least £10k a year. This slow down should have happened a long time ago.

    It has just got crazy now. Parents are remortgaging their homes to help their kids thereby further pushing up prices with then more parents releasing equity to help out. This is like some kind of crazy pyramid scheme.

    Interest rates are still low, look at New Zealand, they are above 7% but it hasn’t stopped house prices rises there.

    I can’t afford to save £1k a month, so every month I am further and further away from ebing able to buy my own home.

    If this doesn’t improve soon, I for one will be using my right to move to another Member State within the European Union because I just can’t afford to live in the UK anymore, which in a way really upsets me because I am being bascially forced out of my home.

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  • Exellent “It’s Now Official” House Price Inflation is SLOWING DOWN even this Real Estate Agent’s Propoganda Rag is acknowledging this. 1000 per month thats about 6% what happened to the 15% increase being touted only a few weeks ago.

    Major problem for this Rag is going to be when the HPC happens what are they going to talk about sure as hell won’t be House Price Crash articles oh well more Diana Consiparcy theories then…..

    This article obviously is aimed at the inadequates out there with no grasp of basic arithmatic…

    Looks good they must be worried……

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  • auntie – yes it is.

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  • I see, house prices are a one way bet. From now until the forseeable future, house prices can only ever rise and in 2010 this will be at twice the rate of average earnings.

    That sounds perfectly credible doesn’t it?

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  • george monsoon says:

    this is spin, but lets hope Mervyn is taking it seriously.

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  • george monsoon says:

    A GREAT BIG PROPERTY CRASH please. so huge it wipes 50% off the “value” of property.
    Without a wakeup call like this, the sheeple will carry on running up thIS country’s dept.

    I want to see the sniped up suits jumping off buildings!!

    Oh, and to cork the arse of anyone who thinks this is could be bad thing (yea right!), I have hardly any savings, I will shovel Sh1t for a living if it pays for my dinner and I don’t have any debt and I am also renting so BRING IT ON!

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  • I think this year prices will go up at the top end (talentless bankers in the city). but this will (as it does now), skew the figures. cheaper properties will either go down in value, or stay the same. but the myth will be there and people will still be getting on the property ladder.

    the thing that will make it even more dangerous is if we start seeing x6, x7,,, x10 etc.. multiples for lending on mortgages. esp with the interrest rates going up. Then it just a case of being set up for a larger fall.

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  • This is an attempt to fool some of the people all the time or at least all the people some of the time. Auntie is now part of the propaganda machine. Shame but true.

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  • inbreda – I certainly hope so! Since early ’04 I have been on this site, watching, waiting, hoping. My confidence is waning.

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  • George

    I really like your entreprenurial spirit, but we really dont want jumping suits, but if they end up selling matches on the street corner your revenge will be all the sweeter.

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  • George

    I really like your entreprenurial spirit, but we really dont want jumping suits, but if they end up selling matches on the street corner your revenge will be all the sweeter.

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  • little professor says:

    Beneath the spun headline…

    “Average prices remained unchanged across 72 per cent of the country in January; the majority of price rises were concentrated in London where values grew by 0.8 per cent.

    House price growth across all other regions was below average, ranging from no change in the east Midlands to an increase of 0.3 per cent in the South-east and East Anglia”

    Not so good news for the bulls, then.

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  • When my wife and I were buying our first house over 2 years ago, we, like other were being persuaded to take out an endowment mortgage. We did not do this, based on advice we were given by a fund manager friend. We invited a mortgage consultant into our home to be told we were “stupid” and “financially naiive”, by the self same salesman for not taking out an endowment. We were told “you cannot lose”, before we were called stupid and shortly before I asked the salesman to leave.
    We all know what has happened with endowments. It was talked up and the only winners were the investment companies. We have exactly the same in the property market. My house “value” has gone up by 65% in the last 3 years. Am I any better off ? The answer is no. It is not real money and the property valuations are not real. The sooner we see prices fall, common sense prevail and our children have a chance to buy a house, the better off we will all be

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  • Does anyone actually take the Daily Express seriously anymore. At least it’s not another Diana conspiracy theory on the front page for a change. Sad to say, the Daily Express stopped being a serious newspaper many moons ago.

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  • george monsoon says:

    Hyrax, thanks.

    I think that my enthusiasm probably makes up for my lack of financial knowledge.
    At least you get a laymans opinion when I post anything, which from observation has been closer to the truth than some of the extrapolated posts I have read on here.

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  • George & Hyrax

    No. I would like to see jumping suits, especially from one or two (lying bastard) firms.

    They pay themselves so much when they play with my money – and only give me – the actual investor – pathetic returns.

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  • autopilotengage says:

    Fine, keep the new builds coming, eventually supply will overshoot ACTUAL demand, not the frothy demand caused by endless speculation. If you’re willing to live in a flat, it’s happy days eventually, there’s no shortage of flats or permission to build flats. The new planning laws will start to affect the equation soon as well.

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  • It sounds crazy but it is plausable. Not long ago prices were going up 70 pounds a day.

    It just drives a wedge between the haves and the have nots even further in.

    More of an arguement to stick up the intrest rates.

    Reposessions are on the up as it is.

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  • Unfortunatly my parents buy the express although when they asked me to get it on sunday, it somehow slipt my mind. I have know idea why they ramp the market the way they do…..they were on about european property in their section on sunday e.g buying in Bulgaria. If their not writing about princess Di, it’s house’s…..WTF

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  • Well yes it is 6% but then it is necessary for us to keep the financial services industry afloat now isn’t it
    ?

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  • Will anyone on here one day stop being a wimpy bear and be bullish about anything? You have to see that to speculate is the only way to accumulate. Yes you may make big losses but it is the only way to have a chance of making big money as well. If you are always bearish and only buy at the bottom of the market then sell to rent as soon as prices rise and stick your money in savings you may always make money in the long rung but you have to accept that it will not be a significant amount. Sure a few of you are clever investors but most of you unfortunately are not.

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  • It’s a battle of wills, we must hold strong and refuse to take stupid financial suicide mortgages.

    The comment about the students is bang on; leave now please. By not entering the market the market will collapse and then come back and buy a cheap house.

    The UK is ranked 37th best palce to live in the World so why stay ?

    It’s crap total crap being a young person without a house having to listen to people who make more in house price rises than in their job ! remember the population is not increasing 50% over 5 years nor is the housing stock depleted by 50%. Interest rates are the same now as in 1999.

    Suck on that Gordon Brown, you’ve destroyed the hope of a generation! I hate you, you’ve made yourself rich and taken the hopes of generation and flushed them down the drain. You will lose the election anyway.

    So lets pack and leave and let Gordon deal with the crap that swills into our shores every day

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  • I couldn’t give a monkeys what my house is worth, if its worth £1 then next doors is as well. We all need somewhere to sleep when we are not flogging our guts out at work so unless you own more than one house its value is totally irrelevant. We just need the spiv investors to move onto the next quick buck at someone elses expense so our kids can afford to buy their own places without their parents sacrificing their retirement to subsidise them in a chronically overheated and unstable market.

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  • If demand is still supporting prices by 2010, then overcrowding in london is going to be MUCH worse. Can you imagine what 2012 is going to be like?

    Instead of building houses we are building stadiums.

    Sounds familiar

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