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Why So Few Houses For Sale?
Why So Few Houses For Sale?
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Replies: 137
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usually the case coachbuster.
but at some point the rich area then doesnt become attractive to live standard of living wise. and standard of living is important |
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why can't social housing be in a good area ?
if that's where houses are also for sale they will go up more and more folk want to live in decent areas - and these are becoming harder to find |
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Question.
What is the primary determinant of house prices in the UK? |
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What is the primary determinant of house prices in the UK?
confidence you wont lose money on it, like any other investment (which is what houses are now in uk, not a place to live) |
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but at some point the rich area then doesnt become attractive to live standard of living wise.
and standard of living is important ____________________________________ it is - but the good areas will generally be where the well paid employment is . you will eventually have more and more gated communities |
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i dont get house prices and no one has ever give me a satisfactory answer as to why people use them as cash cows,some bloke on on location,location the other night was reluctant to buy in case prices went down,so chucking what your living in it for the rest of your live if needs be,who in their right minds trys to 2nd guess house prices over a 25 yr period
there was a question in the telegraph midweek about with cheap money about should you pay down debts or reinvest there were arguments either way i just dont get it ive asked a 1oo times on here i own my own house worth roughly 200 grand on a good day but cant see anyway that helps me to borrow money,if ive got spare money to pay the monthly payments why the chuck would i want to borrow more and pay some bank the interest for doing so,sorry i dont get it,and we wont go down the interest only route there in a world of their own ,deluded one at that, rant over,  |
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good areas are where theres a plentiful supply of coffee shops to charge you £7 for a coffee,normal people cross off house built near parades of shops,etc londoners feel the need to be surrounded by them
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Massive difference in London and the rest of the country - certainly the less rich areas.
I get the feeling London, and its property prices, is, one way or another, going to feck it up for everyone. |
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i doubt anyone living in a nice area would spend £7 on a coffee
don't know anywhere like that nice areas don't charge any more for coffee than anywhere else like for like ,same prices for food ,petrol,heating etc |
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and i wouldn't necesarilly regard London as a nice area just because it's expensive - it's nice in parts .
I'm talking more rural |
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demand exceeds supply...and in london demand is fuelled by the huge number of illegals who have lost themselves there. A lot of the illegals have come to work and only need limited accommodation eg a room in a houseshare. These illegals have no dependants here.
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It shouldn't be cheaper to buy than it is to rent the same property. Many are stuck paying rent on a property they could afford to buy but they cant get a mortgage.
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the problem i have with landords (by to lets) is they have helped push up the prices which in turn has raised rents.
Negative thinking as usual, and very damaging measures suggested further down. Landlords buying to let has in many areas helped to support prices from falling. Falling prices mean no mortgages being granted and certainly no house building. You end up worse than where you started, with even fewer houses to go around because nothing gets built during a pause. And with low prices nothing will get built until prices recover sufficiently. Then they skyrocket if things ever get going again because there are fewer properties to go around. As usual leftie interference would simply make matters worse. |
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Supply and demand does not apply to housing and households. Increase the supply (number of houses) and the demand (number of households) simply increases in tandem.
Build an extra house and the 25-year-old living with his parents buys it and moves in. Build another house and his parents take out a buy-to-let mortgage and rent it out to his younger sister and her friend. Her friend then claims housing benefit which pays the interest-only mortgage. The price of UK housing is determined by the price and availability of debt and the level of employment and wages which service it. It doesn't matter how many homes you build: the price will never fall while politicians, banks and their customers view anything other than living your whole life with the maximum possible debt as a sign of social failure. |
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^^^ exactly so, it will not be possible for house prices to rise in Britain again...at least for the next 40 or 50 years. Its counter-intuitive but an increase in population will mean a fall in house prices.
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Then what has been pushing up house prices and rents if supply and demand isn't involved?
The price of UK housing is determined by the price and availability of debt and the level of employment and wages which service it Availability of debt has been restricted by the high deposits demanded by lenders and everybody knows wages have been going nowhere for years. Which demolishes your post straight away. As for oversupply not affecting the housing market, you'd better ask the Irish and the Spanish why their housing markets crashed after building so many new properties, and why they've never properly recovered if oversupply isn't involved. |
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The Irish and Spanish market crashed because it was a Ponzi scheme and house prices were being driven by the possibility of quick short term profit and were not linked to wages and job security. This is always unsustainable and applies to England also. More and more people in England will decide to rent simply because of job insecurity and low wages.
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More and more people in England will decide to rent simply because of job insecurity and low wages.
More and more people won't have a choice but to rent because of those reasons. |
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The increase in house prices seen over the last decades was driven almost entirely by one thing and that was the icrease in the number of two income families...more and more both wives and husband went out to work until now this is the norm...this is far and away the main reason for house price increases.
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Marvellous stuff ilc1971.
The Irish and Spanish didn't build too many properties by any chance as well did they? No of course they didn't. |
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i,ll ask again
if job insecurity and low pay forces people to rent, with an increasing population living longer how do the millions pay their rent when they retire |
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LHA.
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yes ist time poster, this is why rents and house prices must fall it is inevitable in a post manufacturing Britain with an increasing population.
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If Britain was t o cut its population radically and quickly it would lead to an increase in house prices.
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"Supply and demand does not apply to housing and households." - followed by a lengthy description of demand for housing.
Of course supply and demand applies to housing. Why the hell do you think councils are selling of houses for £1 in places nobody wants to live FFS? |
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OfF
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"The price of UK housing is determined by the price and availability of debt and the level of employment and wages which service it."
And that is already factored into the price people will pay for rent/mortgages, this is extremely basic economics. |
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Twenty-five years ago mortgage lending was restricted to 3x main income plus 1x second income, interest rates were in double figures and interest-only mortgages with no means of paying back the debt were unheard of.
Now people are encouraged to borrow 4.5x two incomes at 2% with taxpayer-provided Help-To-Buy deposits and have to work every hour god gives to do so. There's your house-price inflation. Nothing to do with supply and demand, but everything to do with more debt. |
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It's everything to do with supply and demand.
Please explain why are property prices so different in different areas of the country, when the purchasers and renters have the same mortgage deals available? Explain that then? |
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The price of property in different parts of the country is determined by wages and foreign investment. London however cannot be immune to what is happening in the rest of England and will crash.
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few years back bloke at work was telling me about his interest only mortgage and how he was a bit of a money wizzard by reading the odd bit in the daily mail,when i asked him about his plans to pay the capital back he said what capital then went onto describe a repayment model,theres 1000,s out there who dont no they,ve the capital to payback
another lad at work was always skint then told us he had consolidated all his debts mortgage etc and was paying a lot less a month and was taking the wife away for the weekend,me and my mate said thats alright aint it how does that work,the lad got about 20 yds away turned round and said i forgot to say my loans over 40 yrs now instead of 25,he was happy as larry  |
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Please explain why are property prices so different in different areas of the country, when the purchasers and renters have the same mortgage deals available?
Explain that then? Average wages in London are double those in the north. Mortgages are limited to a multiple of your income. And so property prices in London are double those in the north, as people are determined to amass as much debt as their income allows. And, as 1st time poster notes, in literally millions of cases with no understanding that their monthly payments are not actually even paying back the debt. You can build as many houses as you like, but with that level of ignorance combined with our lust for debt, all you'd do is provide more opportunities for lending the maximum. |
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''As safe as houses'' still holds good.
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How many do you want for under 40k?Every village in the North East has them.Good houses,central heated,double glazed etc.but there's just no employment so consequently those who would traditionally have bought these houses can not get a mortage even if working because they are all on temporary contracts.The employment situation in this country is at the root of all this countries economic problems.Simple answer,get the employment to the regions & there'll be no housing shortage.Give people proper jobs with a full time contract & then those who are unfortunate to be on part time with no contract at the moment would be able to get mortages & buy the houses.
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Nail on head. We have entered a time of insecure low paid "self employed". Banks won't lend so you're stuck renting and you've no chance of saving a deposit.
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That's the inevitable consequences of over supply of labour.
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I go to the North East three or four times a year. It never ceases to amaze me what sort of property you can get for a relatively small amount. My mate has got a decent three bed semi in a quiet cul de sac, not bad sized front and back garden, a garage, off road parking and only 20 minutes walk to St. James's Park. All yours for £130K o.n.o. It's a different world up there.
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Good value ,but Newcastle still more expensive than parts of the south east
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probably because the n east have been brought up to think of a house as a home,theres about 6 of my family are mortgage free and own homes but you never hear people talk about their value,down sizing,equiy release,remortgaging etc,if they were all valued at a penny tomorrow it wouldnt even raise a titter,house prices talk is a young and southern thing
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I could buy a 3 bed semi for 40k in the ex pit village I'm from up north.
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