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HOUSE PRICE BOOM STARTS AGAIN. Daily Express.

Justin CaseJustin Case Posts: 341
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in Politics #1
Me thinks the workers on that paper are made up with property developers. Dont hold your breath as there are many reasons house prices will continue to plumment. Its only a blip!

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    MARTYM8MARTYM8 Posts: 44,710
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    #2
    Well the owner of the Express Richard Desmond has a property portfolio worth at least £500m

    Go figure.:D
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    I love EllieI love Ellie Posts: 8,009
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    #3
    Ahhh, The Express. Their radio jingle tells me that they stand for "good clean fun" amongst other things.

    Shame their owner is a porn baron.
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    CaxtonCaxton Posts: 28,881
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    #4
    Many local papers have been talking this rise up for weeks and the reason why is that they have a vested interest and rely heavily on property advertising for revenue. My local paper has lost a third of their property advertising from the size of the weekly insert compared to before the slump.
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    [Deleted User][Deleted User] Posts: 80
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    #5
    I always get the Daily Express










    It's really absorbant.
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    [Deleted User][Deleted User] Posts: 9,916
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    #6
    What we really need is growth in line with earnings instead of this boom and bust cycle.
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    subversivesubversive Posts: 2,969
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    #7
    The property boom never stopped. In my local area I have not seen any price drops in the past 18months, infact property prices have been put up.


    go figure.
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    pauli89pauli89 Posts: 12,874
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    #8
    Why is a house price boom a good thing(unless you own property, or lots of property)? At a guess I should think there are less people who own houses than those who don't. A further rise in accommodation prices (prices which have seen a ridiculously steep rise over the last 15 to 20 years) is the last thing the many non home owners need.
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    MartinPMartinP Posts: 31,358
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    #9
    pauli89 wrote: »
    At a guess I should think there are less people who own houses than those who don't.

    Home ownership is around 70% in the UK
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    Turnbull2000Turnbull2000 Posts: 7,588
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    #10
    MartinP wrote: »
    Home ownership is around 70% in the UK

    70% of housing is owner-occupied.
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    pauli89pauli89 Posts: 12,874
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    #11
    MartinP wrote: »
    Home ownership is around 70% in the UK

    Really, I didn't realise it was that high. Fair enough.
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    pauli89pauli89 Posts: 12,874
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    #12
    The 70% figure is widely quoted I'm not disputing that.

    Anyway, according to the BBC (Telegraph too) there are 14.54 million owner occupiers in England. The English population is around 51 million.
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    paulschapmanpaulschapman Posts: 35,536
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    #13
    pauli89 wrote: »
    According to the BBC there are 14.54 million owner occupiers in England. The English population is around 51 million.

    The population would include families who all live in one property. so while 14.5m actually own the property that property could have any number of people actually living in it.
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    MARTYM8MARTYM8 Posts: 44,710
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    #14
    Turnbull2000 wrote: »
    70% of housing is owner-occupied.

    How many are mortgage free - they are the only true owner occupiers. Until the mortgage is paid off the bank or building society effectively owns the property as their loan is secured on the property.
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    Raring_to_goRaring_to_go Posts: 20,565
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    #15
    MARTYM8 wrote: »
    How many are mortgage free - they are the only true owner occupiers. Until the mortgage is paid off the bank or building society effectively owns the property as their loan is secured on the property.

    As from March 26, 2007
    The number of owner-occupied dwellings in England slipped by 25,000 to just over 14.6 million last year. The number of households with mortgages fell by 96,000 to 8.2 million. The number of homes owned outright continued to rise, by 71,000 to almost 6.4 million.

    http://www.timesonline.co.uk/tol/news/politics/article1567419.ece
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    MARTYM8MARTYM8 Posts: 44,710
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    #16
    Raring_to_go wrote: »
    As from March 26, 2007


    http://www.timesonline.co.uk/tol/news/politics/article1567419.ece


    So in fact only 30% of people OWN their own home!
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    MARTYM8MARTYM8 Posts: 44,710
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    #17
    subversive wrote: »
    The property boom never stopped. In my local area I have not seen any price drops in the past 18months, infact property prices have been put up.


    go figure.

    Where do you live - Belgravia?:D Asking prices in estate agents windows are not the same as selling prices.

    The land registry (i.e. real sales at real prices) tells a different story. Things may have gone up in the last couple of months but to say prices haven't fallen in the last 18 months is not borne out by the facts!
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    Raring_to_goRaring_to_go Posts: 20,565
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    #18
    MARTYM8 wrote: »
    So in fact only 30% of people OWN their own home!

    Yes that is indeed correct....

    The rest are buying with the aid of a mortgage and in the fullness of time they will all eventually OWN their own home.......unless they are silly and continually re-mortgage to enhance their life style.
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    MARTYM8MARTYM8 Posts: 44,710
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    #19
    Raring_to_go wrote: »
    unless they are silly and continually re-mortgage to enhance their life style.

    Well that's the vast majority of them - this is the UK (borrowing capital of the world).
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    gummy mummygummy mummy Posts: 26,600
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    #20
    The Financial Times seems to believe the the market may be bottoming out.


    UK house prices rose by 0.1 per cent in July, according to the FT house price index, which posted its second successive month of positive growth in a sign that the market may be bottoming out.

    The average house in England & Wales is now priced at £199,903, having fallen by £31,921 from its peak in February 2008.



    http://www.ft.com/cms/s/27a56a02-82b4-11de-ab4a-00144feabdc0,Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2F27a56a02-82b4-11de-ab4a-00144feabdc0.html&_i_referer=http%3A%2F%2Fwww
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    [Deleted User][Deleted User] Posts: 9,916
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    #21
    The average house in England & Wales is now priced at £199,903, having fallen by £31,921 from its peak in February 2008.

    Still too high.
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    [Deleted User][Deleted User] Posts: 1,218
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    #22
    subversive wrote: »
    The property boom never stopped. In my local area I have not seen any price drops in the past 18months, infact property prices have been put up.


    go figure.

    I find that very very hard to believe
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    MARTYM8MARTYM8 Posts: 44,710
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    #23
    Rossall wrote: »
    The average house in England & Wales is now priced at £199,903, having fallen by £31,921 from its peak in February 2008.

    Still too high.


    The Halifax says is £160k - just shows you shouldn't trust any house price data.:D
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    [Deleted User][Deleted User] Posts: 9,916
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    #24
    MARTYM8 wrote: »
    The Halifax says is £160k - just shows you shouldn't trust any house price data.:D

    My guess that includes the Scots and N. Irish who drag the average right down. :p
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