KIRK AND CO Posted March 18, 2013 Author Share Posted March 18, 2013 Because some poor bugger sold it cheap as they were probably facing repossesion? Could be a number of reasons. And have you actually sold it or is that a valuation?on paper but knocking 50% off that still a good profit & no they were trading up to a brand new 5 bed house we brought it from the house builder they were buying from who had brought theres in the deal. Link to comment Share on other sites More sharing options...
Guest chris955 Posted March 18, 2013 Share Posted March 18, 2013 House prices seem to be at a much more realistic level nowadays, we looked at buying a house here when got married back in the 80's, £30,000 would have bought us a nice place back then, now that house would be 200k. We own a house here and would love to see prices rise 50% but that is purely from a selfish point of view. Link to comment Share on other sites More sharing options...
colinmaclec Posted March 18, 2013 Share Posted March 18, 2013 Nobody really benefits from higher house prices apart from banks and a few developers who get off at the right time. If you have a decent job you should be able to afford a home in a nice area. All we have created in the last 20 or so years is making people owe the banks a bigger slice of their salary for a longer period of their life and if you ask me that is a worrying trend. Link to comment Share on other sites More sharing options...
Guest chris955 Posted March 18, 2013 Share Posted March 18, 2013 I wont mention the country but where I used to live we sold our house for more than 3 times what we paid for it 11 years earlier, wages obviously didnt go up anywhere near that much. This is why people cant get on the property ladder so I do agree with some of what you say. Link to comment Share on other sites More sharing options...
northernbird Posted March 18, 2013 Share Posted March 18, 2013 The problem I see with the market in the UK (and this isn't to say this doesn't or hasn't happened in Australia!!) is that if they have to put up interest rates. I don't understand financial markets at all and why they lower/increase rates etc but there are a lot of people that will be up the creek without the proverbial if interest rates go up a few %. People who bought bigger houses with bigger mortgages when the rates/prices plummeted. Link to comment Share on other sites More sharing options...
Perthbum Posted March 18, 2013 Share Posted March 18, 2013 I don't see rising house prices as a good thing. People need affordable houses to live. I bought my house for 60, , 000 it went up to 100, 000 and is now back around 75 to 80. I think that's a fair price. 100, 000 for a terrace in a not so nice area is a rip off. hoping for a collapse in aussie prices as well most experts agree it's way over valued House prices on oz will drop, they are massively overpriced. Link to comment Share on other sites More sharing options...
Guest chris955 Posted March 18, 2013 Share Posted March 18, 2013 Of course an increase in the interest rate will affect some, it has always been the case but rates here will be low for the foreseeable future and any rises will be modest. Link to comment Share on other sites More sharing options...
Guest chris955 Posted March 18, 2013 Share Posted March 18, 2013 House prices on oz will drop, they are massively overpriced. The problem is the high property values are directly supported by the Government. Link to comment Share on other sites More sharing options...
Guest Posted March 18, 2013 Share Posted March 18, 2013 I don't see rising house prices as a good thing. People need affordable houses to live. I bought my house for 60, , 000 it went up to 100, 000 and is now back around 75 to 80. I think that's a fair price. 100, 000 for a terrace in a not so nice area is a rip off. hoping for a collapse in aussie prices as well most experts agree it's way over valuedI don't see that happening any time soon - today's headline in the West Australian http://au.news.yahoo.com/thewest/a/-/wa/16385956/perth-house-price-hits-500k/Maybe I just want to believe it as we are about to put our house on the market! Link to comment Share on other sites More sharing options...
Eddy Smirks Posted March 18, 2013 Share Posted March 18, 2013 Asking prices going up is meaningless if no one is prepared to or can afford to pay the price. It worked when the banks were throwing money around for mortgages and it appeared that the 'dream' of owning your own home was running away from people. These articles are almost suggesting that the average property will increase in value by £52,000 in the next year (£142 x 365) - somehow I didn't think so. Btw we still have the Budget this week and the fallout from the Cyprus debacle. I don't see either of these suddenly turning around the fortunes of the Uk in the next few weeks. eddy Link to comment Share on other sites More sharing options...
Guest chris955 Posted March 18, 2013 Share Posted March 18, 2013 I didnt interpret what they said as house prices will rise by that amount every week, it was purely saying it went up that much each week for a month. Link to comment Share on other sites More sharing options...
PontePom Posted March 18, 2013 Share Posted March 18, 2013 Houses near us in Australia come on the market and are sold in weeks if not days... FACT Link to comment Share on other sites More sharing options...
Guest chris955 Posted March 18, 2013 Share Posted March 18, 2013 Houses near us in Australia come on the market and are sold in weeks if not days... FACT That is interesting but not sure about the relevance ? Link to comment Share on other sites More sharing options...
Perthbum Posted March 18, 2013 Share Posted March 18, 2013 Houses near us in Australia come on the market and are sold in weeks if not days... FACT Yep, same in Stratford, houses don't last long on the market around here. Link to comment Share on other sites More sharing options...
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