Price increases
Discussion
I was looking at a new estate nearby just out of curiosity.
We bought our little 2 bed for £145,500 (we got £5k off list) at Christmas 2016
The identical house literally a few hundred yards down the road is now £243,000.
It’s not often you can find a direct comparison but that was interesting. I’m just glad we bought when we did.
I seem to be unlucky. I bought a bunch of BTLs (2 bed flats) between 2015 and 2018 and they barely seem to have moved. Maybe from £250k to £270k.
I bought my family home (4 bed detached) in 2018 and its barely gone anywhere either. Maybe 10% on a good day.
All commutable to London.
To me the property market felt like it boomed between 2020 and 2022 followed by a reversion to a fairly tepid mean.
I bought my family home (4 bed detached) in 2018 and its barely gone anywhere either. Maybe 10% on a good day.
All commutable to London.
To me the property market felt like it boomed between 2020 and 2022 followed by a reversion to a fairly tepid mean.
Mr Whippy said:
Overall D said:
Good thing is that net incomes are also 70% up since 2016 otherwise people would have to really cut down on their avocados
?Average salary is up 24% ish… and that feels more in line with what I see when I look around.
As in identical but new build never lived in?
150k without discount would be £200k in todays money adjusted for inflation, I’ve never studied the new build market that well, but once “second hand” and new build premium / other incentives removed, I’d imagine it shows the value has pretty much just kept in line with inflation?
150k without discount would be £200k in todays money adjusted for inflation, I’ve never studied the new build market that well, but once “second hand” and new build premium / other incentives removed, I’d imagine it shows the value has pretty much just kept in line with inflation?
Overall D said:
Mr Whippy said:
?
Average salary is up 24% ish… and that feels more in line with what I see when I look around.
Apologies, that was sarcasm aimed at other posters not in this threadAverage salary is up 24% ish… and that feels more in line with what I see when I look around.
But responded in a way that left sarcasm in place but also made it clear for those of us increasingly sarcasm proof from extended PH exposure
Danns said:
As in identical but new build never lived in?
150k without discount would be £200k in todays money adjusted for inflation, I’ve never studied the new build market that well, but once “second hand” and new build premium / other incentives removed, I’d imagine it shows the value has pretty much just kept in line with inflation?
Yes, identical brand new. Even pretty much similar plots.150k without discount would be £200k in todays money adjusted for inflation, I’ve never studied the new build market that well, but once “second hand” and new build premium / other incentives removed, I’d imagine it shows the value has pretty much just kept in line with inflation?
richhead said:
Overall D said:
Good thing is that net incomes are also 70% up since 2016 otherwise people would have to really cut down on their avocados
not in the real worldI think the WHOLE POINT of the post was that no saving of avocado's would close the gap, and yet young people are always being told they spend too much on brunch and mobile phone contracts while entirely missing how much cheaper and easier it was to buy a house in the past. If wages have gone up 25%, but house prices are 70% higher, the difference is not avocados...
Thanks Condi, you made that point a lot better, I wasn’t eloquent enough to make my point and not resort to cheap jokes.
I’d love to hear what DonkeyApple thinks of it but i feel that a massive shift has happened in the past 20-something years where capital income growth not just outpaced but destroyed job income growth. Nearly everything has been turned into assets and then more assets have been created out of thin air (well, energy, computing power and make-believe). This has created a disconnect not seen before in the 20th century in the first world, as honest work has stopped being a way to comfortable living. I feel the political turbulence happening here, in Europe, and the US only start to reflect the discontent and I really hope the rebalancing will not cause wider societal or national conflicts.
I’d love to hear what DonkeyApple thinks of it but i feel that a massive shift has happened in the past 20-something years where capital income growth not just outpaced but destroyed job income growth. Nearly everything has been turned into assets and then more assets have been created out of thin air (well, energy, computing power and make-believe). This has created a disconnect not seen before in the 20th century in the first world, as honest work has stopped being a way to comfortable living. I feel the political turbulence happening here, in Europe, and the US only start to reflect the discontent and I really hope the rebalancing will not cause wider societal or national conflicts.
Great news! I see three options now...
1/ Stay
2/ Sell, take the profit, and then buy something for what you originally bought yours for.
3/ Upsize, and use the increase in equity to buy somewhere else bigger that has also gone up xx%, oh hang on...
Eyore mode off. Actually option 4, take 10k of equity come next remortgage and go a bit nuts.
1/ Stay
2/ Sell, take the profit, and then buy something for what you originally bought yours for.
3/ Upsize, and use the increase in equity to buy somewhere else bigger that has also gone up xx%, oh hang on...
Eyore mode off. Actually option 4, take 10k of equity come next remortgage and go a bit nuts.
Edited by Moulder on Monday 11th November 05:15
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