Saturday, February 10, 2007

House prices up £83 per day

House prices up £83 per day

House prices rose last month by 1.3 per cent – an average of £83 a day.

Posted by david20040_0 @ 04:37 PM (432 views)
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14 thoughts on “House prices up £83 per day

  • The normal Daily Express tosh … Ignore !

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  • Unfortunately, I think HPI is set to continue for some time, although this will be region dependent. Three friends at work have, or are in the process of BTL or buying derelict dumps with a view to flipping. Few people I speak to on the subject of HPC believe it will happen (at all in most cases). Okay, this is bubble mentality, but sentiment has not changed, contrarily it appears to be gaining strength. The MPC’s latest ‘hold’ decision seems to have boosted confidence in HPI. HPC by 2009/2010 at the earliest, but with dire economic consequences.

    On a brighter note, the flat next door (literally a bedroom with en-suite kitchen) just went on the market for £84,950 (sold in 2002 for £37,500). A BTL, just without the ‘L’ for the past 5 months. Rent seems bizarrely cheap round here (South West). Thousands of dire flats slapped up in the past two years. Market now saturated. Shortage of good quality family housing though.

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  • Can anyone else think of another consumer durable that we measure its cost price inflation in pounds or pennies per day.

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  • Depends whose figures you use. HPI is dead!

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  • This is actually why the Bank of England has to raise rates to crash the housing market. The minute housing starts looking really wobbly, the mainstream press launch a misinformation campaign to reignite speculation i the market.

    Bugger it, I’m going abroad.

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  • They are still going up, when is this site going to be shut there never will be a hgouse price crash. We have missed the boat lads, now we just need how to look to get out of here.

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  • >They are still going up, when is this site going to be shut there never will be a hgouse price crash. We have missed the boat lads, now we just need how to look to get out of here.

    You could have written the same thing before the last crash. Just because they went up last year, it doesn’t mean they will this year. There’s only a finite supply of money!

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  • C'mon Correctiob says:

    I live in Cardiff. Prices are going down. Many houses on streets I looked at three years ago are now cheaper.

    So David2004 please realise the picture varys greatly around the country, and don’t believe everything a sales company reports.

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  • Mark my words David … it will happen … just look over the pond. Every fundamental you look at tells us this is a bubble. I always remember a friend of mine being aghast when I said I didn’t want to buy ‘Freeserve’ shares when they floated just before the dot.com crash – he lost thousands before the company dissapeared. My decision then was based on the fundamentals. I correctly called the last house crash, the dotcom crash and I tell you now …. there will be major falls in both house prices and share markets around the globe on a scale approaching the falls seen during the 1920’s crash and subsequent recession. The government knows this and I suspect most of business knows this, which is why there is such a fanatical media frenzy to try and convince the populus that everything is rosey. Patience and vigilance are the keywords.

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  • Patience and vigilance?

    Nah, I have heard people keep saying there is going to be a crash since about 2003.

    There isn’t.

    Everywhere you look house prices are shooting up.

    I can only save £500 a month which I am putting in a high interest account. I have saved up £10k but every month house prices are rising by 1K at least.

    The FUNDAMENTAL difference with the United States and us, is they can build themselves out of a problem, we can’t, we have no space.

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  • Uncle Chris is spot on with this one as all the cards are stacked against the economy in general. Low wage rises, fiddled inflation figures, increasing tax burden, government debt, overvalued pound, huge multiple’s of salaries required for basic houses, interest only mortgages commonplace, ignored pensions crisis and the live for today sod tomorrow attitude of so many. The list goes on and on, but at some point a single event will break this camels back and we can only hope that the net result is nothing like the 1920’s crash.

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  • george monsoon says:

    Squatters rights!!

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  • Hey why is it that last month (December) when Halifax announced a 1% fall that the Daily Express didnt print

    “House prices fall by £80 a day”

    They are muppets, so if the FTSE fell from 6500 to 3500 between 2000 and 2003 surely now it would 0000 ? got to be true …oh it’s 6200 + again so in by 2010 it will be 12400 , the Daily Express would think so judging by their idiocy.

    Also as I grew from 18″ to 6ft 2″ bewtween 1972 and 1990 then I should be 12ft 4″ now but strangley I’m not, I will write to the Daily Express to find out why.

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  • dohousescrashinthewoods says:

    Sevensins, that’s beautiful! Ha ha. Simple, clear and to the point.

    David, I believe you are dreaming. Look as us – we live in a police state where the Ministry of Murdoch controls information and the government are more corrupt, self-interested or out-and-out incompetent than Zimbabwe’s. No one is investing time and effort for the future, everyone is raiding all they can for here and now and they know the barns are empty.

    Uncle Chris and Enuii, you seem to have a very sober assessment there. I would love to emigrate to somewhere like India or Brazil, the next major players, where the emperors are busily manufacturing clothes, rather than parading their obese bodies about in nothing but the last remains of moth-eaten old-empire rags. To say that we are financially, morally and socially bankrupt is probably not sensational any more.

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