To thing some homeowners are taking the mick

[headlic]

A house on our road was sold for £600k in Dec 2021 & has been put on the market for £735k. The house is exactly the same inside and out aside from a lick of paint and new furniture. Are housing in the south east increasing as such a rate? I thought house prices were going to stagnate for a few years.

I am really disappointed. Our children are looking to buy a house and increases like this make it seem completely impossible. I thought they would be able to get something decent, I didn't account for a 20% increase for house prices.

The previous owners of the house were a dinner lady and a bus driver. The current owners are a dentist and an accountant in their early 30s. Lovely couple but just an example that home ownership is going to be impossible for so many people.

Completely off topic but that was some quick maths you did there with the percentage calculation.

He came to have a go at you???! What did he even say?!

@AnxiouslyAwaitingSpring yep! He was cross I was under selling his house lol

Twat

The tittle of your OP is odd. Should people not sell houses for what people are willing to pay…just so some FTB can get on the housing market. That’s an odd way to look at things.

I don’t think that rise is unusual, we live in a Manchester suburb and house prices have gone up by 150%+ in a decade. They were going up quickly but the pandemic really accelerated it - we bought in 2022 when the market was crazy and prices have continued to rise, even with all the economic uncertainty.

I don’t feel very hopeful about the future for young people wanting to get on the ladder but I also never thought I’d manage it, coming from a working class background, so maybe I’m pessimistic when it comes to housing!

My parents bought a 4 bed detached house in the south east in 1994 for 120k when they were mid 30s, dad was a police officer, mum worked part time, that house is now worth £700k (they still live there). Me and my husband are the same age that they were when they bought their house and we live in the same area in a 2 bed detached house that we paid £475k for lol

In reference to the OP.

The increase is meaningless without factoring in inflation. In real terms the value has increased by less than 4% over 4 years, hardly taking the piss.

You may find this informative Inflation Calculator

I agree OP. However, if you stay in a holiday let or Air BnB, you are part of the issue.

They're deluded

2021 was peak - remember stamp duty holiday?

Prices have dropped since then

To be fair, a finished new build house is at least ... Finished. My friend was supposed to move in whilst pregnant. Her baby was 6m when they moved in and there weren't any carpets.

My daughter has just bought her first house in the south east. She had to go well over the asking (starting?) price to get it. For the same money up here you can get 5 bed Georgian with several acres. It’s just supply and demand. Sadly.

I’m not even sure it’s that clear cut anymore.

I live in a very average town, not really commutable to anywhere of note, where the ‘main shops’ are Boots and WH Smith, and prices are horrendous. An ex council, 3 bed semi with a good size garden will go for £400,000+. The Victorian terraces are listed for around half a million, and many don’t have parking or a useable garden.

I honestly don’t understand who is buying them, given wages have not increased, yet they still seem to sell. It’s a bit soul destroying to be honest - an average wage no longer gets you an average house.

So if someone can get more for their house you want them to turn it down?

2 houses have just gone on RM from my very average area in Yorkshire, I was shocked at what they are asking as I thought the market was supposed to be stagnant , but then the UK housing market is just bonkers.

Dbank · Today 11:30

MrsSkylerWhite · Today 10:24
House prices are rising again.
Only way around it is for a government to commit to building social housing. Which won’t happen.

Encouraging any house building will add to the supply and ultimately reduce prices.
Expecting the tax payer or developers to subsidise "social housing" will never produce sufficient numbers.

Not quite sure what you mean, tbh.

As “tax payers” (higher rate) we would be delighted if the government instigated a new housing programme.

We both grew up on council estates. People took pride in their homes and looked after them. Living in social housing wasn’t something to be ashamed of. Almost all of the people who lived in those houses were tax payers.

The actual price a property sold for will be listed on the Land Registry website, but it usually takes a couple of months before it goes online.

Rightmove might list it as SSTC at £625000, but months later it might appear on LR website sold price for £580000.

The uk needs to be buildinga lot more housing. There is no point blaming individual buyers, the supply is strangled.

We really shouldn’t be building more housing on greenfield land. It would be catastrophic for the environment, our food production, our flood risk and the infrastructure of the country. What we need to do is repurpose a lot of empty buildings into high quality flats, and make apartment living the norm in the UK, even for families.

Agree with you, also feel that an end to most second homes and air BnB type lets would go a long way.

WEF "You will own nothing" in their NWO & The Great Reset.

I’m in the South East. Bought our house for 275 about 18 years ago. Just had revalued at 700 - we have done a few improvements but not made the house bigger. We haven’t driven this price increase it is market rate.