House prices growing at fastest rate in nearly two years, UK’s biggest building society says | Business News
https://news.sky.com/story/house-prices-growing-at-fastest-rate-in-nearly-two-years-uks-biggest-building-society-says-13205813
Posted by RandomRecGoalie
22 Comments
Must be the start of that crash all the renters and folk that live with their parents at 25 keep telling me about? Any year now…
With the recent news that Lloyd’s is going to start offering mortgages up to 5.5x salary and the fact interest rates are coming down this is hardly surprising.
We’re likely to see a surge in house prices if interest rates continue to drop.
Well of course they are going up now… While they were sort of ‘down’ I had done the calculations and still couldn’t afford to buy. Now that I might be coming into a small inheritance that I was hopeful would tip the balance everything goes up to make sure I still can’t buy.
Oh good, here I had a sliver of hope I could move out of my parents before I’m 40…
As long as supply continues to be less than demand for something so crucial to us like housing, I don’t see a crash occurring
Yet we keep seeing new high-rise flat buildings in London…I thought building more housing would make them affordable?🤔
Ah, I see my generation getting shafted once more. Not just in the job market but also here. Very optimistic for the future!
That will make buying and upsizing houses much harder…
I’m looking to re-mortgage after my first 5 year fix and I’m set to fully absorb the help to buy loan due to these shocking price increases.
It’s madness that I put down £14,750 5 years ago to buy a house at a 5% deposit, and if I sell now and pay off everything (HTB Loan, Mortgage, fees etc), I’ll have £90,000 in the bank.
I just want a home and a place to live, not make money off basic human needs such as shelter.
I welcome a huge crash. I didn’t buy my house to sell it for more, I bought it so I have a place to live.
Good. I’m selling my rental property soon. Pump it
For as long as big money are allowed to buy up all the houses, we’re doomed. Reporting doesn’t talk about the wealthy buying up everything
Well, there is also an increase in people selling so it might offset some of the price rise
Terrible news for average homeowners.
Keeping people in the rent trap or being forced to save every spare penny for a deposit is a big part of why the economy is so sluggish.
I’d rather a house that barely appreciates in value at all if it meant my town could have more money flowing into high street business and funding the council instead of disappearing into corporate landlord profits or being scrimped and saved for a deposit that moves further away each year.
Good because we can all afford more expensive houses
My house has risen by 40% in 5 years.
It’s not particularly fair but it will make me rich when I inevitably sell it upon retirement and move somewhere warmer and a third of the cost abroad.
Get yourselves on the housing ladder pronto. Don’t listen to the weird Reddit ideologists who like to pretend renting is better and should be the end goal.
It’s not. You’re just paying for someone else’s mortgage + a bit extra for cream. Renting for any length of time is a mugs game.
A good chunk of the money you will ever ‘earn’ in your life will be through your house.
Exactly as Gary Stevenson predicted, I highly recommend checking out his YouTube channel to everyone.
Oh look, Gary Stevenson was right, asset prices are just going to keep going up and you’re going to continue not being able to own a house…Â
Not the news I was hoping for… was hoping to buy my first place in about 4-6 months…
Can’t wait for what little I can afford to slowly work its way outside of my limited budget. The pickings are already slim.
Oh great houses prices going up again, everyone rejoice, oh except for our kids who are screwed.
The plus side is that they have only risen about in line with inflation so relatively speaking they are going up by 0.4% more than inflation, although it depends on what measure of inflation we use.
The bad news is that with interest rates going down this is only going to rise faster over the next 12 months depending on how much they are cut.
> “Providing the economy continues to recover steadily, as we expect, housing market activity is likely to strengthen gradually as affordability constraints ease through a combination of modestly lower interest rates and earnings outpacing house price growth,” Nationwide’s chief economist Robert Gardner said.
This is great news, now I’ve had my offer accepted. Terrible for anyone else.
What the government should do is to repossess all property that isn’t owner occupied, and transfer these to local councils. They should also demand every landlord return any profits they’ve ever made.