Go Back  British Expats > Living & Moving Abroad > Moving back or to the UK
Reload this Page >

UK house prices to breach 300,000 GBP...

UK house prices to breach 300,000 GBP...

Old Aug 8th 2007, 9:41 pm
  #31  
Just Joined
 
Joined: Jun 2006
Location: new jersey
Posts: 25
apw619 is an unknown quantity at this point
Default Re: UK house prices to breach 300,000 GBP...

A beachhut at Southwold, on the sometimes sunny Suffolk coast, will cost you 50,000 this year. (That's almost as much as I sold my last home in England for.) So 300k for a house you could actually live in doesn't seem so bad!
apw619 is offline  
Old Aug 10th 2007, 8:20 am
  #32  
Account Closed
 
Joined: Jul 2007
Posts: 202
lanky spoken here is an unknown quantity at this point
Default Re: UK house prices to breach 300,000 GBP...

Originally Posted by ali_j
This is unbelievable -- business analysts think in just five years, average UK house price will break 300,000 GBP.

I can never move back home again!!! How can this be??? I can bet you that average wages won't rise by a similar amount....

http://news.bbc.co.uk/2/hi/business/6932304.stm
A simple two up two down terraced in Lancashire is 100K pounds now
lanky spoken here is offline  
Old Aug 10th 2007, 8:35 am
  #33  
Ping-ponger
 
dunroving's Avatar
 
Joined: Jul 2002
Location: Dreich Alba
Posts: 12,004
dunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond repute
Default Re: UK house prices to breach 300,000 GBP...

Originally Posted by lanky spoken here
A simple two up two down terraced in Lancashire is 100K pounds now
That must be one of the cheapest areas in the UK, then. Similar houses have jumped the 100k barrier a long time ago in other areas of the north.
dunroving is offline  
Old Aug 10th 2007, 6:39 pm
  #34  
Thinking about it
 
BigDavyG's Avatar
 
Joined: Oct 2005
Location: Mid-West
Posts: 9,435
BigDavyG has a reputation beyond reputeBigDavyG has a reputation beyond reputeBigDavyG has a reputation beyond reputeBigDavyG has a reputation beyond reputeBigDavyG has a reputation beyond reputeBigDavyG has a reputation beyond reputeBigDavyG has a reputation beyond reputeBigDavyG has a reputation beyond reputeBigDavyG has a reputation beyond reputeBigDavyG has a reputation beyond reputeBigDavyG has a reputation beyond repute
Default Re: UK house prices to breach 300,000 GBP...

Originally Posted by Sally
If the population continues to rise it may well be sustainable. How does Britain do it??
It can't be sustainable unless wages go up too.
Sure buy-to-letters could keep buying stuff up, but who will be able to pay the rents ??
BigDavyG is offline  
Old Aug 10th 2007, 6:46 pm
  #35  
BE Forum Addict
 
Tootsie Frickensprinkles's Avatar
 
Joined: Nov 2005
Posts: 1,397
Tootsie Frickensprinkles has a reputation beyond reputeTootsie Frickensprinkles has a reputation beyond reputeTootsie Frickensprinkles has a reputation beyond reputeTootsie Frickensprinkles has a reputation beyond reputeTootsie Frickensprinkles has a reputation beyond reputeTootsie Frickensprinkles has a reputation beyond reputeTootsie Frickensprinkles has a reputation beyond reputeTootsie Frickensprinkles has a reputation beyond reputeTootsie Frickensprinkles has a reputation beyond reputeTootsie Frickensprinkles has a reputation beyond reputeTootsie Frickensprinkles has a reputation beyond repute
Default Re: UK house prices to breach 300,000 GBP...

Originally Posted by BigDavyG
It can't be sustainable unless wages go up too.
Sure buy-to-letters could keep buying stuff up, but who will be able to pay the rents ??
The bloody tax payer is paying the rents!! The government HAS to step in and stop this ridiculous cycle.
Tootsie Frickensprinkles is offline  
Old Aug 10th 2007, 6:50 pm
  #36  
Ping-ponger
 
dunroving's Avatar
 
Joined: Jul 2002
Location: Dreich Alba
Posts: 12,004
dunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond repute
Default Re: UK house prices to breach 300,000 GBP...

Originally Posted by BigDavyG
It can't be sustainable unless wages go up too.
Sure buy-to-letters could keep buying stuff up, but who will be able to pay the rents ??
BTL just isn't sustainable these days apart from people who have the skills to buy a really cheap run down place and do it up before letting. BTL mortgage companis have strict lending rules, often requiring 25%-50% deposit and rental equal to 125% of the mortgage interest paymens. The figures just don't add up like they did just 5 years ago.
dunroving is offline  
Old Aug 10th 2007, 6:58 pm
  #37  
Account Closed
 
Joined: Sep 2005
Posts: 15,455
Sally is an unknown quantity at this point
Default Re: UK house prices to breach 300,000 GBP...

Originally Posted by Tootsie Frickensprinkles
The bloody tax payer is paying the rents!! The government HAS to step in and stop this ridiculous cycle.
That is the hidden cost of the "Right to Buy". A lot of people have got rich buying up ex council houses and other low cost stock and then letting it out to tenants paid for by the local authority. Madness.

Wish I'd thought of it.
Sally is offline  
Old Aug 10th 2007, 6:59 pm
  #38  
Account Closed
 
Joined: Sep 2005
Posts: 15,455
Sally is an unknown quantity at this point
Default Re: UK house prices to breach 300,000 GBP...

Originally Posted by BigDavyG
It can't be sustainable unless wages go up too.
Sure buy-to-letters could keep buying stuff up, but who will be able to pay the rents ??
I don't know - it's a mystery to me - maybe some people are inheriting money.
Sally is offline  
Old Aug 10th 2007, 7:01 pm
  #39  
Thinking about it
 
BigDavyG's Avatar
 
Joined: Oct 2005
Location: Mid-West
Posts: 9,435
BigDavyG has a reputation beyond reputeBigDavyG has a reputation beyond reputeBigDavyG has a reputation beyond reputeBigDavyG has a reputation beyond reputeBigDavyG has a reputation beyond reputeBigDavyG has a reputation beyond reputeBigDavyG has a reputation beyond reputeBigDavyG has a reputation beyond reputeBigDavyG has a reputation beyond reputeBigDavyG has a reputation beyond reputeBigDavyG has a reputation beyond repute
Default Re: UK house prices to breach 300,000 GBP...

Originally Posted by Sally
That is the hidden cost of the "Right to Buy". A lot of people have got rich buying up ex council houses and other low cost stock and then letting it out to tenants paid for by the local authority. Madness.

Wish I'd thought of it.
Totally agree with that.
I have relatives who have never worked who now own property worth well over £100k - on what planet is that deemed to be fair, or equitable ??
BigDavyG is offline  
Old Aug 10th 2007, 7:02 pm
  #40  
Thinking about it
 
BigDavyG's Avatar
 
Joined: Oct 2005
Location: Mid-West
Posts: 9,435
BigDavyG has a reputation beyond reputeBigDavyG has a reputation beyond reputeBigDavyG has a reputation beyond reputeBigDavyG has a reputation beyond reputeBigDavyG has a reputation beyond reputeBigDavyG has a reputation beyond reputeBigDavyG has a reputation beyond reputeBigDavyG has a reputation beyond reputeBigDavyG has a reputation beyond reputeBigDavyG has a reputation beyond reputeBigDavyG has a reputation beyond repute
Default Re: UK house prices to breach 300,000 GBP...

Originally Posted by Tootsie Frickensprinkles
The bloody tax payer is paying the rents!! The government HAS to step in and stop this ridiculous cycle.
Well I believe that in many areas the government is to stop the practice of paying rent directly to landlords. Whilst the reasons for this are ludicrous (teaching people more financial responsibility apparently) it should force a lot of buy-to-let-ers out of the market once they start having trouble collecting rents.
BigDavyG is offline  
Old Aug 10th 2007, 7:09 pm
  #41  
Account Closed
 
Joined: Sep 2005
Posts: 15,455
Sally is an unknown quantity at this point
Default Re: UK house prices to breach 300,000 GBP...

Originally Posted by BigDavyG
Totally agree with that.
I have relatives who have never worked who now own property worth well over £100k - on what planet is that deemed to be fair, or equitable ??
Some of our work-allergic ("shy" would be too kind) relatives were boasting about the gullible system and taking holidays in USA, Bali and Vietnam amonst other places while my husband and I were slogging our guts out to afford a week in a Cornish caravan :curse::curse::curse: Plus one had a triple heart by-pass but still moaned about the NHS, didn't declare it on his insurance for foreign trips and caused a scene on the plane because he wouldn't eat "foreign muck" (pasta).
Sally is offline  
Old Aug 10th 2007, 7:11 pm
  #42  
BE Forum Addict
 
Tootsie Frickensprinkles's Avatar
 
Joined: Nov 2005
Posts: 1,397
Tootsie Frickensprinkles has a reputation beyond reputeTootsie Frickensprinkles has a reputation beyond reputeTootsie Frickensprinkles has a reputation beyond reputeTootsie Frickensprinkles has a reputation beyond reputeTootsie Frickensprinkles has a reputation beyond reputeTootsie Frickensprinkles has a reputation beyond reputeTootsie Frickensprinkles has a reputation beyond reputeTootsie Frickensprinkles has a reputation beyond reputeTootsie Frickensprinkles has a reputation beyond reputeTootsie Frickensprinkles has a reputation beyond reputeTootsie Frickensprinkles has a reputation beyond repute
Default Re: UK house prices to breach 300,000 GBP...

Originally Posted by BigDavyG
Well I believe that in many areas the government is to stop the practice of paying rent directly to landlords. Whilst the reasons for this are ludicrous (teaching people more financial responsibility apparently) it should force a lot of buy-to-let-ers out of the market once they start having trouble collecting rents.
One big way round that though is housing associations. Something serious has to be done long term, but short term we have the potential of seeing tens of thousands of repos falling into the hands of developers and letters because foreclosures will go to auction and most potential homebuyers wont.
Tootsie Frickensprinkles is offline  
Old Aug 10th 2007, 7:18 pm
  #43  
In the pink
 
Mallory's Avatar
 
Joined: Oct 2006
Location: USA
Posts: 3,324
Mallory has a reputation beyond reputeMallory has a reputation beyond reputeMallory has a reputation beyond reputeMallory has a reputation beyond reputeMallory has a reputation beyond reputeMallory has a reputation beyond reputeMallory has a reputation beyond reputeMallory has a reputation beyond reputeMallory has a reputation beyond reputeMallory has a reputation beyond reputeMallory has a reputation beyond repute
Default Re: UK house prices to breach 300,000 GBP...

The baby boomers parents are now starting to die. They will be leaving expensive house to their children (who already have a house). The boomers will be helping their children get houses with the windfall.
Mallory is offline  
Old Aug 10th 2007, 7:32 pm
  #44  
Account Closed
 
Joined: Sep 2005
Posts: 15,455
Sally is an unknown quantity at this point
Default Re: UK house prices to breach 300,000 GBP...

Originally Posted by Mallory
The baby boomers parents are now starting to die. They will be leaving expensive house to their children (who already have a house). The boomers will be helping their children get houses with the windfall.
Mine won't :curse:
Sally is offline  
Old Aug 10th 2007, 7:51 pm
  #45  
BE Forum Addict
 
Tootsie Frickensprinkles's Avatar
 
Joined: Nov 2005
Posts: 1,397
Tootsie Frickensprinkles has a reputation beyond reputeTootsie Frickensprinkles has a reputation beyond reputeTootsie Frickensprinkles has a reputation beyond reputeTootsie Frickensprinkles has a reputation beyond reputeTootsie Frickensprinkles has a reputation beyond reputeTootsie Frickensprinkles has a reputation beyond reputeTootsie Frickensprinkles has a reputation beyond reputeTootsie Frickensprinkles has a reputation beyond reputeTootsie Frickensprinkles has a reputation beyond reputeTootsie Frickensprinkles has a reputation beyond reputeTootsie Frickensprinkles has a reputation beyond repute
Default Re: UK house prices to breach 300,000 GBP...

Originally Posted by Mallory
The baby boomers parents are now starting to die. They will be leaving expensive house to their children (who already have a house). The boomers will be helping their children get houses with the windfall.
Parental assistance is a big thing yes, but I would think *most* baby boomer parents did not own their own homes. Certainly not enough value to fuel the current situation. Council housing back then was what the majority of ordinary people lived in. Very well looked after proper council houses.

I can only think of 2 or 3 examples in my grandparents generation which must have been some 20 odd people that owned their houses. And whilst that is true to some extent for the middle - upper middle + classes, those approaching old age now are well aware they may not get through without using the house to pay for nursing care.
Tootsie Frickensprinkles is offline  

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service -

Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.