€43m knocked off Ireland's most expensive house
http://www.guardian.co.uk/business/irel ... se-walford
House prices
The name of the property - Walford - made me laugh, given that it's about as removed from the Eastenders Walford as it's possible to get! 
Jeff
Jeff
superfrank wrote:€43m knocked off Ireland's most expensive house
http://www.guardian.co.uk/business/irel ... se-walford
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superfrank
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Compound inflation (RPI) was 32.47% over that period (01-10).Average property prices overall have risen nearly 53% to £177,740 in that time.
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Groovyelms
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We should open a book on how many times the Daily Express runs this front page...always good for a laff 
Groovy
GroovyA slightly more cautious take on house prices: http://www.telegraph.co.uk/finance/econ ... nwide.html
Robert Gardner, Nationwide chief economist, said prices remained flat over the year, at 0.3pc lower than September 2010.
He said: "Sluggish demand for homes on the back of weak labour market conditions, combined with only a gradual rise in the supply of available properties, has helped to keep property prices fairly stable since the summer of 2010.
"We expect this trend to be maintained over the remainder of 2011, although downside risks have increased as UK and global growth prospects have weakened."
Jeff
Robert Gardner, Nationwide chief economist, said prices remained flat over the year, at 0.3pc lower than September 2010.
He said: "Sluggish demand for homes on the back of weak labour market conditions, combined with only a gradual rise in the supply of available properties, has helped to keep property prices fairly stable since the summer of 2010.
"We expect this trend to be maintained over the remainder of 2011, although downside risks have increased as UK and global growth prospects have weakened."
Jeff
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Groovyelms
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Hi All,
From a lay point of view house prices and the feel good factor seem to be welded together in this country... I do wonder if finally the uk is being more sensible about all this... But the demographics of a large population and very high prices will mean that someday the so called feel good factor based on the express's wow frontpages will return.
Another point we are constantly told/informed is that we need to build more homes..... But where is everybody liveing right now, today? homelessness is obviously unacceptable, but I have allways pondered that question!
luck to all,
Groovy
From a lay point of view house prices and the feel good factor seem to be welded together in this country... I do wonder if finally the uk is being more sensible about all this... But the demographics of a large population and very high prices will mean that someday the so called feel good factor based on the express's wow frontpages will return.
Another point we are constantly told/informed is that we need to build more homes..... But where is everybody liveing right now, today? homelessness is obviously unacceptable, but I have allways pondered that question!
luck to all,
Groovy
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superfrank
- Posts: 2762
- Joined: Fri Aug 14, 2009 8:28 pm
Because most houses are bought on a mortgage the biggest effect on house prices is the availability of credit and interest rates.
The availability of credit has shrunk dramatically (because risk is now being assessed more realistically) - the 125% mortgages offered by Northern Rock were an example of how reckless the lending got.
House prices got way overvalued (relative to incomes) but the house price crash has not occurred because of record low interest rates and government schemes (e.g. SMI).
Another big support for rents (and thus prices) comes from housing benefit which costs the country a fortune and often pays more than the market rate - BTL landlords in poor areas deliberately target hb claimants because they get a better yield.
Most immigrants that come to the UK are potless and don't have access to credit, but they do support rents because they have to live somewhere and hb is always there when required.
The availability of credit has shrunk dramatically (because risk is now being assessed more realistically) - the 125% mortgages offered by Northern Rock were an example of how reckless the lending got.
House prices got way overvalued (relative to incomes) but the house price crash has not occurred because of record low interest rates and government schemes (e.g. SMI).
Another big support for rents (and thus prices) comes from housing benefit which costs the country a fortune and often pays more than the market rate - BTL landlords in poor areas deliberately target hb claimants because they get a better yield.
Most immigrants that come to the UK are potless and don't have access to credit, but they do support rents because they have to live somewhere and hb is always there when required.
Given that housing benefit is facing a squeeze, and even experienced professionals are applying for low-level jobs, I'm not sure that will remain the case for too long...
Jeff
Jeff
superfrank wrote: Most immigrants that come to the UK are potless and don't have access to credit, but they do support rents because they have to live somewhere and hb is always there when required.
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superfrank
- Posts: 2762
- Joined: Fri Aug 14, 2009 8:28 pm
House prices lacking direction, says the Halifax
http://www.bbc.co.uk/news/business-15196066
"lacking direction", what is that supposed to mean?!!
in real terms they are falling steadily.
http://www.bbc.co.uk/news/business-15196066
"lacking direction", what is that supposed to mean?!!
in real terms they are falling steadily.
And now they're telling us we're in a for a mini ice age, which could begin in just a couple of weeks' time! 
http://www.express.co.uk/posts/view/276 ... i-ice-age-
Jeff
http://www.express.co.uk/posts/view/276 ... i-ice-age-
Jeff
Ferru123 wrote:The Express's lead story this morning is that this winter will be cold and there'll be snow.
House prices fall £5,000 in year to September - http://www.telegraph.co.uk/finance/pers ... ember.html
So much for all these surges the Express keeps going on about...
Jeff
So much for all these surges the Express keeps going on about...
Jeff