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Original poster

good news for homeowners as house prices increase again

270 replies

nettlewine · 29/04/2015 20:49

So the nationwide are reporting that house prices are up this month.

Seriously this isn't good news, even if you own a home as any step up becomes more expensive and even if you don't and have kids its no life to still be living stuck at home in your 20s and 30s!

The vast majority of homeowners in this country couldn't afford their home if they had to buy it now. The system is broken and its wreaking the whole country and the economy. London isn't a place for londners as they can't afford it and all new builds are sold off plan on Malaysia! Arrg every time I hear the thread title quoted I want to scream.

If only house prices were sensible and people could invest in something useful like producing stuff. I can't see this country as a good place for my children to grow up in.

OP posts:
StarsInTheNightSky · 29/04/2015 20:51

Couldn't agree more, it's one of the many reasons that we emigrated.

FarFromAnyRoad · 29/04/2015 20:52

Makes me laugh when people crow on about how much their house is worth. I feel like saying "Go on then! Move! Sell up and find something else to buy you twat" - because they won't be able to. It's all relative. My house is worth four times what we paid for it but it was all we could afford at the time. Everything else is also worth four times what it was ten years ago so we're still stuck - I don't think that's anything to crow about!
I suppose the answer is to sell up and go buy somewhere in Italy or France but then you're just as fucked but in different ways!

PippaPug · 29/04/2015 20:52

I'm never going to be able to buy a house at this rate :(

londonrach · 29/04/2015 20:54

Really bad news... :-(

SylvaniansKeepGettingHoovered · 29/04/2015 21:13

An increase in house value surely is better than a decrease? Our house has increased in value, which means that if DP loses his job & everything goes tits up for us then at least we can downsize to a smaller house in a not-so-popular area and get some money back from our home.

OrlandoWoolf · 29/04/2015 21:29

Typical Daily Express Headline Confused

Something you own gets more expensive. If you want to get a bigger one, tough. It will be more expensive.

It's good if you plan to downsize. But of course, the house you want to buy has also got more expensive.

Kerberos · 29/04/2015 21:45

It's terrible news. The price of houses here is a national disgrace. All people want is a safe place to call home and we are all held over a barrel. It makes me furious.

icecoldcoke · 29/04/2015 22:20

I'm a born and bred Londoner and I've bought a home here. Lots of friends from my childhood are still here too, although I also have lots of friends who have come from other countries (mostly professionals). I'm sure there are lots of very rich foreigners here as well, but I don't tend to cross paths with them. But I don't agree that no Londoners can afford to live here.

I don't think it's particularly good news but I think the housing ladder pattern is becoming very different for Londoners, I can see myself staying in my flat for years so am not too worried about having to move up to the next step (am just in a 2 bed but that's fine as only have one dd). So am not really affected by house price rises or falls. I think my friends are mostly the same, just having one dc, or none, and not feeling they need to move up to a suburban 3 bed terrace with a garden.

DameDiazepamTheDramaQueen · 29/04/2015 22:24

Far from - you're right if you stay in the same area but not if you move to a cheaper area.

DameDiazepamTheDramaQueen · 29/04/2015 22:26

Sorry far from, you basically said that at the end of your post, that'll teach me to skim read Grin

We moved to a nicer, cheaper area and ended up with a house instead of a flat.

OrlandoWoolf · 29/04/2015 22:28

If you downsize and move to a cheaper area, the price of houses there will also have gone up.

Maybe by not as much but they will have gone up.

And once you downsize or move somewhere cheaper, it's hard to get back.

FarFromAnyRoad · 29/04/2015 23:10

It's ok Dame - Grin I do that all the time!

DameDiazepamTheDramaQueen · 29/04/2015 23:45
Blush
Original poster
nettlewine · 30/04/2015 08:44

When did you buy your home coke though? Will your children be able to buy?

90% of new builds are sold off plan to abroad investors in London. London is in a huge bubble.

OP posts:
ScrambedEggAndToast · 30/04/2015 09:27

Great. Never going to be able to buy anything Hmm

TwoOddSocks · 30/04/2015 10:20

icecoldcoke clearly some londoners can afford to buy a home. The point is that the proportion is much much less than it used to be and going down all the time. It used to be that exclusive areas like knightsbridge were for people that were in fairly lucrative professions and were reasonably successful (lawyers, top doctors etc.) and the nice leafy suburbs were where you'd buy a nice semi-D if you were say a teacher or a nurse. Someone in a lower level job (say gardener, bus driver etc) would buy a small terraced house in a suburb or less desirable central location.

Now you have Saudi princes and oil tycoons in Knightsbridge, top professionals in the suburbs and everyone else really struggling to buy anywhere unless they have financial support from elsewhere.

Nolim · 30/04/2015 10:22

Bad news for tenants who want to become homeowners.

19lottie82 · 30/04/2015 10:23

I haven't noticed them going up in my area (Glasgow) at all......

Original poster
nettlewine · 30/04/2015 10:27

Great post socks, now you have two professionals on six figures between them who can't even buy a house in what was a cheap area a few decades ago, like tooting.

OP posts:
ConnieBaby · 30/04/2015 10:27

This isn't across the country though. Mainly London/SE and parts of the SW. We live in the NW and my house is worth less than we bought it for in 2007.

Penguinsaresmall · 30/04/2015 10:29

Sorry but I can't help being happy that the biggest asset I will ever own and have worked hard to pay for the last 15 years or so has increased in value. I know it helps that I don't ever want to move, unless to downsize when I'm older. I also realise it's not good news for everybody. But I think if people are honest, most homeowners are quite happy.

blue42 · 30/04/2015 10:31

Penguinsaresmall, do you have no children?

ChazsBrilliantAttitude · 30/04/2015 10:35

As a London homeowner it is easy to rub my hands and say "I'm alright, Jack" but it does worry me. A flat in our road has just sold for what we paid for our house a couple of years ago. I am not sure we would be able to buy our house now. Probably 10 years ago our neighbourhood would have been top end blue collar jobs to mid-range white collar (excuse the lazy definitions). Not anymore, I work in financial services, my NDN works in financial services, anybody who wants to move here now will probably need a six figure income and /or a huge deposit. So over time we will have another homogenous wealthy enclave in what was a mixed area.

I am already working on the assumption that we will have to help the DC get on the property ladder.

Penguinsaresmall · 30/04/2015 10:35

No I have children. They will be fortunate enough to benefit from the sale of ggparents homes which will help them on the housing ladder.

Maybe it's partly that I've seen it all before - I was trying to buy my first house in the late 90's when house prices were just as nuts as they are now. At the time everybody was saying how my generation would never manage to buy their own homes, but we did.

Penguinsaresmall · 30/04/2015 10:35

And I don't live in London.

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