I don't think you read the link did you.
House prices rose 7.3% this year, average now almost £250k
- Thread starter HACO
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I did. It looks like they don't count farmland as developed. I personally do not consider that green space.
Wildlife decline is massive.
This is best info I could from from bbc
England.. 14 percent wild
Wales 35
Scotland 70.
And the difference is apparent.moving to Wales you can really see how much more wild and unspoilt it is vs England
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Are you serious - or have you just never travelled outside your local area?Try going hiking in Northumberland and then say there's not much land.
Yup, I'm sure the UK economy will benefit from pensioners spending tens/hundreds of thousands in Vegas.
That means we should build a Vegas here
I'm not saying you say that, but so many people, including our PM, do. Any other asset appreciation is taxed, why not property?
Let it wipe the value. So what? Your (and my) children are not entitled to a big inheritance at everyone else's expense. If someone has hundreds of thousands of pounds, and needs to pay £35k a year for taking care of themselves, use their money.
The idea that people shouldn't need to use their wealth for their needs, just because that means they may have less to leave for their children, is bonkers.
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Farmland is the problem, we could do with exporting less food. more forests please.
Yep.
Would be lovely.
Its why the west and North is more wild. Not attractive as farmland
but that's not going to happen
Agreed. We should be able to house and FEED our population.
Interesting article on r4 today this morning -
estate agents over-valueing properties out of self & client interest,
people then paying those prices / FOMO, when in reality in a normal (non covid) market with more properties, less employment concerns, property would not command that price.
some discussion
https://www.estateagenttoday.co.uk/...almost-half-of-buyers-hit-by-lenders-bad-news
estate agents over-valueing properties out of self & client interest,
people then paying those prices / FOMO, when in reality in a normal (non covid) market with more properties, less employment concerns, property would not command that price.
some discussion
https://www.estateagenttoday.co.uk/...almost-half-of-buyers-hit-by-lenders-bad-news
How can they be overvalued if people are paying the prices? The definition of value is how much someone is willing to pay for it.
edit: Ok, I understand now I've read the article. I was looking at it from a Scottish perspective where you know the value of the property before you make an offer. What a silly system England has :|
still open to the same issue though, lender is happy providing your collateral with cover potential market problems, and, if you pay more,
you have to bear in mind that if market opens up, a vaccine say, then you maybe caught out.... winners curse
but, I think this came up before here, the valuers do have a professional caveat that market conditions are un-presidented so ymmv
Yes, I was thinking of a situation where a property, for example, is valued at £250,000 and the estate agent suggests putting it up at offers over £260,000. It's not over priced if people are willing to pay that price. (but everyone knows the surveyors valuation is £250,000 and they all know that lenders will only lend against the £250,000 valuation)
It would be a different case in England where there isn't any official valuation supplied to prospective buyers so they might assume that the estate agents have marketed it at it's value. Then you only find out the real value when you pay for a valuation or get a mortgage valuation done. So I can see what you're saying in that situation.
I have a sneaky suspicion that the property I purchased was overvalued. The mortgage company valued it above/at offer. But in not sure after seeing others on the market.
Its a hard one to guage as the house isn't same as any others on the street. Or surrounding area And I was up for OIEO.
Most houses have a smaller garden (this is like 4x size of typical newish build) . But no idea how much that affects it.
It also fell through once and not sure if I trusted the EAs answer as to why.
How people/lenders price houses and how mortgage companies value them is like a dark art.
Out of interest. I just measured it up.
It sits on a 500m2 plot vs 180m2 plot. Only a bit bigger but 17 percent higher cost.
Its a shame they're isn't more guidance for buyers in what a house is actually worth.i know it'll always be arbitrary. But how does anyone value fully bespoke properties?.
Its a hard one to guage as the house isn't same as any others on the street. Or surrounding area And I was up for OIEO.
Most houses have a smaller garden (this is like 4x size of typical newish build) . But no idea how much that affects it.
It also fell through once and not sure if I trusted the EAs answer as to why.
How people/lenders price houses and how mortgage companies value them is like a dark art.
Out of interest. I just measured it up.
It sits on a 500m2 plot vs 180m2 plot. Only a bit bigger but 17 percent higher cost.
Its a shame they're isn't more guidance for buyers in what a house is actually worth.i know it'll always be arbitrary. But how does anyone value fully bespoke properties?.
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Associate
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You never know, that's quite a bizarre or maybe even a gamble for me as well. Does it depend on the mortgage company tho or estate agent specifically?
https://www.theguardian.com/money/2020/dec/19/average-uk-house-price-rises-2020-covid-housing-market
Another piece of confirmation, house prices rose £13.3k this year. Earnings and GDP down, unemployment way up, and house prices just keep on increasing.
Another piece of confirmation, house prices rose £13.3k this year. Earnings and GDP down, unemployment way up, and house prices just keep on increasing.
Caporegime
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You do know this is actually how the way things work right?
In a pandemic would you expect employment to increase alongside wages?
Then you have governments borrowing and printing money to survive meaning assets increase in price alongside everything else.
Then add Brexit into the mix.
Your fixated on just house prices but have zero understanding of the bigger picture.
Guess what they will continue to increase thanks to quantitive easing. This isn't a conspiracy. We understand that you cannot afford to buy a mansion in London.
Rather than constantly complain about the same old thing every couple of weeks like a broken record do you have anything new to add? Or just regurgitating house prices have gone up because that gets boring fast.
Talking about a crisis that the country is facing is not an attack towards you so I don't know why you're so hostile and always want to make this personal.
If you don't like people talking about X, don't come to topics about X. It's weird that you're coming to topics, telling others that they shouldn't discuss something.
Im aware it's 2am on a Saturday night so there might be some simple explanation for why you're acting weird, it's probably time to chill out.
WOW That is so cheap
While where i live the house & Rent prices are still mental
Now in 2020 the average price is £459,837
House prices in Guernsey see largest annual increase in almost 10 years | Channel | ITV News
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