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House prices lower in real terms over the last decade in every part of England & Wales outside London

(17 Posts)
DoughDoe Sun 28-Jun-15 00:41:57

Oh, and Surrey, Brighton, and Windsor:

sallyismyname Sun 28-Jun-15 08:56:10

House prices go up and down and for the last 10 years the pound has been devalued massively by printing money (aka stealing from savers) and wages haven't increased with inflation so we are all much poorer.

This is a non story

mummytime Sun 28-Jun-15 09:13:03

Is was just going to say not here!

sallyismyname Sun 28-Jun-15 09:19:24

Mummy the pound has been devalued by more than 30% over the last ten years.

sallyismyname Sun 28-Jun-15 09:20:28


mummytime Sun 28-Jun-15 10:12:12

And my house value has pretty much doubled - but then I live in one of those exception areas.

sallyismyname Sun 28-Jun-15 10:28:51

My house has also almost doubled, but in real terms its about the same.

Wages haven't doubled though.

mummytime Sun 28-Jun-15 10:36:14

What does real terms mean then???
If it's not related to earnings or food prices. Its not very real if its just based on money supply or something.
House prices have also risen in relation to house prices in most other countries.

LotusLight Sun 28-Jun-15 10:41:10

I don't think mine is any different from 10 years ago (outer, not inner, London).

Squidzin Sun 28-Jun-15 11:07:07

Londoners- How has the property boom affected your area?

In my area, East End, a few years back I could get a studio to do art for around £20 a week. No more. The area seems to be going through a sterilisation process. Local business being kicked out, big corporates moving in.

The local Christians run a soup van to feed the homeless, the council have tried to frame them for "anti-social behaviour" which is a lie. The people running and using the service are gentle, respectful and cause no fuss. They are being forced out to attract more investors.

You get 20 immigrants living in one tiny rented house to serve coffees to the wealthy in the city who themselves own 10 houses. The wealth divide is hugely apparent in the East End.

The Tories are forcing councils to sell social housing stock as soon as they are built. Housing association stock up for grabs next. This will of course be great for the economy wealthy, further pushing up the cost of living.

London is being cleansed.

LotusLight Sun 28-Jun-15 11:16:08

That's just central London where most of us have never been able to afford to live - even 30 years ago we couldn't afford to live there so live in outer London. Plus ca change.

sallyismyname Sun 28-Jun-15 11:36:33

No its not just central lotus.

My friends bought a house in Kentish town on two standard wages 30 years ago. Similar houses now are now worth over a million.

Even houses out in Stratford , which is still grim now, have gone up three times in the last ten years.

drinkscabinet Sun 28-Jun-15 11:43:01

It doesn't surprise me that house prices are lower in real terms over the last decade. Our house hasn't moved in value since the crash in 2007, we live in the NE. My brother's flat in the East End has doubled in value in 5 years. But since the government pumps more money per head into London than any other part of the country is it any surprise?

Squidzin Sun 28-Jun-15 11:46:33

The London property market is also skewed because it's the go-to save haven for international criminals to park their cash. (fact).

mummytime Sun 28-Jun-15 11:49:02

When we bought our first home in our town, it was at roughly 3x my DHs income. That same house would now cost 3 x my DHs present income and he has had huge pay jumps in the mean time.

I really don't know how any of the young couples we see buying houses in our present location manage to afford it - even on two high incomes. Maybe they earn enough that a few years ago they would be living on even richer friends homes - where houses used to cost £1m and now cost £3 -5M.

Trills Sun 28-Jun-15 11:53:29

I see the whle of Oxfordshire is one "area".

I suspect that anything within 5 miles of Oxford city centre would be on the "more exensive than 10 yrs ago" side, and it's the rural areas that are balancing it out. Ditto Cambridge.

Nameforsexboard Sun 28-Jun-15 11:56:01

3 x income is a joke now. I could buy in Winchester on 3x income in my early 20s. I am now 36 and we couldn't buy the same house....

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