http://www.cml.org.uk/cml/filegrab/2ML2.xls?ref=4624
Median age was 32 at some periods in 2003/04, but is down to around 28/29 now.
House prices..
- Thread starter fendi
- Start date
http://www.cml.org.uk/cml/filegrab/2ML2.xls?ref=4624
Median age was 32 at some periods in 2003/04, but is down to around 28/29 now.
capital economics have usually been quite conservative on their predictions as well.
Ah, I thought it was higher than that. Over the last decade though it's flat, 29 to 29 and since the data started in the mid-seventies the age has risen from 26/27.
So I don't think frosty03 can say: "People are buying at a younger and younger age."
So I don't think frosty03 can say: "People are buying at a younger and younger age."
It's nice to seen "credible" people falling into line behind the "Internet doomers"!
To be honest, I am yet to see any solid proof of that "massive crash". The new built and redevelopment properties that were overvalued dropped in prices, true, but for regular price brackets, on secondary market I don't think anything changed that much. Guy one street away just accepted offer on his house at 5k more than his neighbour got last June. Just had a quick look at rightmove, and the calling prices in my neck of the woods are higher than they were last year when I remortgaged. And my area is supposed to be one of the 5 most affected by the credit crunch apparently. Well, looks like despite all black predictions it might be a while before I will be able to buy the other half of my semi detached at bankruptsy price. 
In all seriousness though - so far I see and feel retail market slump and energy crisis more than the alledged market crash. If anything repayment on my mortgage has gone down in the last few months. It could be because we never stetched to the limit and we don't have some unsustainable mortgage on half a million feature property that just fell 50k in value overnight, but in all honesty, I'm not sure why is everyone trying to paint this in such dark colours, as if we were to talk ourselves into this crash. Short term buy to rent ownership is a small percentage of UK housing market. And so is percentage of peopel with large portfolios with capital secured against it. To anyone else, for us, regular folks, that have to live somewhere, a fall of 10 or 20% for few years doesn't really matter, it's going to go up again, sooner or later, it will always hoover at least above inflation rate in decade to decade comparison. And it's not like during that period rental prices will be slashed in half. So, as long as banks are kept under control and don't go nuts with interest rates, what exactly is that "horrible market crash" supposed to do to us?
In all seriousness though - so far I see and feel retail market slump and energy crisis more than the alledged market crash. If anything repayment on my mortgage has gone down in the last few months. It could be because we never stetched to the limit and we don't have some unsustainable mortgage on half a million feature property that just fell 50k in value overnight, but in all honesty, I'm not sure why is everyone trying to paint this in such dark colours, as if we were to talk ourselves into this crash. Short term buy to rent ownership is a small percentage of UK housing market. And so is percentage of peopel with large portfolios with capital secured against it. To anyone else, for us, regular folks, that have to live somewhere, a fall of 10 or 20% for few years doesn't really matter, it's going to go up again, sooner or later, it will always hoover at least above inflation rate in decade to decade comparison. And it's not like during that period rental prices will be slashed in half. So, as long as banks are kept under control and don't go nuts with interest rates, what exactly is that "horrible market crash" supposed to do to us?
Last edited:
I've just had a look at houses for sale around my area. Well, since I was looking last year, it looks like everything has gone up a bit. This crash is a complete media fabrication. So you guys just keep holding out for that 4 bedroom house for £50k.
Did you buy that house last year?
In December.
I wouldn't worry, sounds like a great place so you'll be able to stay there a while.
Just looked at ours on there. Not much help because no one have bought a house there since us, although one I beleive has just (or is in the process) of selling at ~ 199k.
Soldato
- Joined
- 3 Jun 2005
- Posts
- 5,365
- Location
- West Sussex
That must be the one that tells you house prices are still rising.
you mean the one updated by the land registry
lol
Soldato
- Joined
- 3 Jun 2005
- Posts
- 5,365
- Location
- West Sussex
you mean the one updated by the land registry
makes a change from the EA's basing price changes solely on asking prices.
The reason i ask Bug one is that i can understand you shrugging off any crash if you have bought at THE VERY TOP of the boom, if you are planning on staying there for a while and the repayments are comfortable then thats great and you will have no problems.
But at this point in time anyone saying there isn't a correction coming needs to "get real"
I was speaking to a women that we bought a horse off last week and she was an estate agent, she said that nearly every house they have been dealing with for the last 2 months was a reposesion, its very sad that people are in that situation.
This is an area where a decent 3 bed deatched is only £150k too!!
But at this point in time anyone saying there isn't a correction coming needs to "get real"
I was speaking to a women that we bought a horse off last week and she was an estate agent, she said that nearly every house they have been dealing with for the last 2 months was a reposesion, its very sad that people are in that situation.
This is an area where a decent 3 bed deatched is only £150k too!!
makes a change from the EA's basing price changes solely on asking prices.
well sale prices here have still been selling with a few £k of the asking price
The reason i ask Bug one is that i can understand you shrugging off any crash if you have bought at THE VERY TOP of the boom, if you are planning on staying there for a while and the repayments are comfortable then thats great and you will have no problems.
But at this point in time anyone saying there isn't a correction coming needs to "get real"
I was speaking to a women that we bought a horse off last week and she was an estate agent, she said that nearly every house they have been dealing with for the last 2 months was a reposesion, its very sad that people are in that situation.
This is an area where a decent 3 bed deatched is only £150k too!!
that is very sad.
but they must be doing something wrong to only be selling repo's
all jokes aside, yes there have been an increase in repo's, by increase i mean compared to the time i have been with the firm i have delt with 2 this year compared with none the 18months before that.
but i am expecting a few more
Soldato
- Joined
- 3 Jun 2005
- Posts
- 5,365
- Location
- West Sussex
well sale prices here have still been selling with a few £k of the asking price
On yes I forgot that your little corner is representative of the whole of the UK property market.
and once again i make the comment i seem to be making after every post.
i am only posting with respect to what i see within the area i am in.
have you not noticed me saying that on every post i have posted. i thought i might have to stop saying that now! but obvioulsy not!
Kinda the opposite in the area I'm looking at, the cheap resale 4-bed homes have dropped from ~£235-240k to £225k over the past 3 months or so. Whereas the new build development seems to be shifting houses at close to asking price (albeit no doubt with loads of dodgy hidden savings like stamp duty, upgraded interior etc).
According to Nationwide they have data since 1952: http://www.nationwide.co.uk/hpi/historical.htm
Viewing that data, we have seen falls of over 10% in the past, for example Q4 1990 prices were more than 10% lower than in Q4 1989.
When adjusted for inflation, the figures are even more dramatic - around 18.8% as I illustrated earlier in this thread.
Last edited: