Monday, April 16, 2012

The Last Throws Of A Bubble?

House [asking] prices in England and Wales hit record high

The average asking price in England and Wales is now at an all-time high of £243,737 – up £1,237 on the previous record set four years ago. 'Not a universal signal of a housing market recovery,’ said Miles Shipside, director of Rightmove. -- I see people out and about [in London & the SE] looking at houses too, but how many are 'serious buyers' I'm really not sure. Seems to me that any capital flow is toward more and more 'prime real estate'. Well the buck stops somewhere.

Posted by 51ck-6-51x @ 12:50 AM (1801 views)
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11 thoughts on “The Last Throws Of A Bubble?

  • Perhaps the average asking price will drift up as unaffordable properties are left on the market, whilst more affordable houses are sold.

    For example if the majority can only afford houses £125k then houses over £125k will be left on the market and the average asking price will be higher.

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  • Inflation will ensure that house prices are maintained in London; I should imagine that there will be more falls in other [less popular] parts of the country.

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  • mark wadsworth says:

    The last throes of the dice.

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  • @mw – Don’t I remember you saying that when Labour were in office back in 08′ ??

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  • Mark, I don’t think it is a last throw of the dice. I think it’s easy to forget that out of the whole Ponzi scheme that was the housing market/debt/irresponsible banking there were those both near and at the top of the tree who made an absolute fortune out of it. It’s an aspect that rarely gets reported. Needless to say, these people tend to be ‘cash rich’ and as such where do they put their money, into prime location real estate. The whole scam has resulted in transfer of wealth from the middle and lower classes to the top of the pile and they will ensure that prices in the ‘best’ locations will continue on an upward spiral whilst those in less desirable fall but because the cash is at the top of the pile the overall effect will look like an increase in prices.

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  • ive seen here in Boston (UK) prices creeping back to 2006 levels at least. @khards been saying this myself. one property neer me was on at offers over £165k for about 18 months, theyve now changed agents and are back on at £169k, go figure. another one just put on the market for £115k whilst two propeties near by are on at £107K each and havent sold for about two years. delusions delusions.

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  • prices are starting to drop on the cheaper to middle housing in cheshire – very little is moving only footballers houses are changing hands, everything else seems static

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  • The bubble that never burst is getting even bigger – – BANG .

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  • I just came back after a year away from the site. Funny to see the same people saying the same thing year after year. How do you all stop yourselves from getting depressed!

    Time to get on with life!

    Doesn’t matter how many times you write the same things or how reassured you feel by reading the posts other like minded people, its not going to change the fact that the Govt will not let prices fall. Inflation adjusted prices will fall, so go out and get yoursefl the biggest mortgage your finances will allow and give in to the Govt’s unwritten policy.

    Just be happy, life is short…

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  • FWIW – These are initial asking prices being talked about here.

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  • mark wadsworth says:

    Khards comment 4, yup, the Blue-Orange Wing has taken over from the Red Wing but the policies are more or less identical.

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