View Full Version : Can house prices get worse?

14th Apr 2005, 15:45
Talk about making a killing.This house (http://news.bbc.co.uk/1/hi/england/london/4444731.stm) has just been valued.Looks like someone could be in for a windfall.I thought I'd done well with an increase of 35% in 15 months.
Where will it end??:confused:

Onan the Clumsy
14th Apr 2005, 16:10
"The reason people are attracted to this over other houses is the price, because you are getting good value for money." :confused:

14th Apr 2005, 16:31
Rumour has it that the Bank of England are considering the introduction of a new currency to run in parallel with the pound sterling. The new 'X' pound would be used exclusively in the buying and selling of private dwellings. Initially at least, one new 'X' pound would be worth 10 pounds sterling. But the intention as with any other freely-convertible currency traded internationally, is that the markets will set the rate. 'X' pound notes would have lots of space on them to easily add additional zeroes as required. And if or when the time comes, we can ask the Greeks and Turks their advice... :}

Send Clowns
14th Apr 2005, 16:44
Ah, so you mean higher, better rather than worse.

It all depends upon your perspective. I have a great investment in a house, has done very well for me. OK so "I'm alright Jack", but while I do appreciate it makes things difficult for some people, there is always an up side to these issues for someone. I am not some wealthy landowner who could afford to do without, that money is actually very important to me in allowing me to do what I am doing to invest in my employment skills.

14th Apr 2005, 16:53
It's your children, and their children who will be paying for the mess... :rolleyes:

I know, why don't they just introduce a 200 year mortgage...in conjunction with my 1C (1 couple, 1 child) policy to save the planet? That should do the trick. :8

Biggles Flies Undone
14th Apr 2005, 16:55
:rolleyes: No they won't - they can go and live in some cheap French property :E

14th Apr 2005, 16:59
Just down the road from me...a 1 bedroomed flat in the old part of town: asking 480,000?! :mad:

Send Clowns
14th Apr 2005, 17:06
That is ridiculous! What town?

I have no children, airship, and none in prospect. My parents own several houses as investment. By the time my nephew or any future kids of my own grow up they will probably be willing to sell to help them buy, if I can't help. Most likely I never will have any so can save enough to help the nephew to myself.

14th Apr 2005, 21:33
Perhaps one of the Ozmates out there can shed some light, but hasn't there just been a small block of land with just a toilet block sold for a bloody stupid amount of money?

As if living in Sydney wouldn't be bad enough.

Solid Rust Twotter
14th Apr 2005, 21:37
You can pick up 400 odd hectares with a house and outbuildings over here for around 50000-00 squids.

Of course, you'll just have to deal with the fact that you'll be burgled every week and stand a good chance of being killed by marauding crims.

"Here" being South Africa...:(

14th Apr 2005, 21:41
Its all very well moaning about house prices but you can still pick up a perfectly reasonable terrace in Liverpool for less than 60k.

YET a 20 year old little plane can cost 100,000's!

I would need to sell a house to buy a plane! In fact I need to remortgage my house just to pay for my PPL. Good job the've gone up!

And I know house prices are high in comparision to say 3 years ago but as they have doubled interest rates have halved and the income to average property price ratio is much the same as it was in the 90's.

Anyway back to my ground school studies!

Kaptin M
14th Apr 2005, 21:52
Prices Dunnunda (Australia & New Zealand) have also skyrocketed over the last couple of years, as well.
As an example, 2 years ago, there was a block of 1970's-built brick flats comprising 8 in total, on a narrow beachfront block at Nobby Beach, Gold Coast, selling for AUD500k each (5years ago you would have picked them up for $130k each!).
A guy came along and bought the lot - $4 mil...and then BULLDOZED them! $70,000 + for that exercise.

He then constructed his own private residence at a cost of $2.5 mil. The house was completed in September of last year.
His outlay - around AUD7 mil (where do these people get their money from, btw? He's under 40 y.o. - a builder/developer.)

The property is NOW valued at $15 million!!

"Money makes money" - but only IF you've got some to start with :{

Metro man
15th Apr 2005, 00:02
In Japan they have a mortgage which can be passed on to the next generation as housing is so expensive you will struggle to pay off a house during your working life. Prehaps it'll happen in other countries as well.