I bought a 2 bed terraced house 25 yrs ago for £60k Do you know what it's worth now?

£200k?

The OP was the answer, not a restatement of the thread subject.

Hello Rip Van Winkle

Tell me whereabouts and I'll have a guess.

It was a facetious remark. A 2-bed house will always be a 2-bed house.

All this money being poured in to housing just inflating the market. FTBs in the London area need a deposit of £100k or more!

Ah, bit slow off the mark there! My niece lives in a two bedroom garden flat that my brother owns and he turned down £850K for it last year, complete madness.

Property investors benefit i suppose.

The average homeowner hasn't had a pay rise in 10 years but feels wealthier because his house has increased in value but doesn't really gain anything until or unless he cashes in or trades down.

Owning a home shouldn't be a business for anyone.
more than 40 years ago, people couldn't care less if they owned or rented where they lived.

The rest is history

I used to blame governments for not building enough houses or the facilitating thereof. I still do to an extent but I'm beginning to think that the properties are there - it's just that too many are owned by buy-to-let investors.

Yes.
And quite a few of our law makers and MPs just happen to be landlords too!

Houses in Bayham Street in Camden, north London (those not divided into flats) go for over a million pounds.

You know who lived in one of these million pound houses in the late 19th Century? The Cratchit family, headed by Bob Cratchit, father of Tiny Tim and clerk to Ebenezer Scrooge in Dickens' A Christmas Carol. I doubt many clerks could afford to buy a house there now.

Middle class people with well-paid jobs would now not be able to afford to buy the house they bought 15 years ago.

The Cratchits!
Did they live next door to Alice and her looking glass and just up the road from the Darling family, whose kids were kidnapped by Peter Pan?

No but the Dickens family did live there as well. Alice presumably lived in the Oxford countryside where there were rabbit holes everywhere. Peter Pan came from Kensington Gardens which is far more upmarket.

2 up 2 down 1991 Bham adjacent train station £38350

time to London Euston 2 hours

now  £115k

I thought Bham to Euston was about 65 minutes?

really even better

suberb to new st 20 mins

new st euston 65

10? connection time all good 95 mins

£5.40 virgin early book

put on another £10 k

suburb *

£1.2k mill 28p

I worked in a casino in Kensington, where there is a plaster cast of Dickens death mask on the wall next to the cash desk, for some weird reason!
I often dealt or inspected Roulette on the table right opposite.
So there's your (inadvertent) link to Peter Pan and Dickens.

I hope you didn't spend ages looking all that up ramruma ;)

Oh, btw, Peter Pan came from Neverland, not Kensington

How exactly did we reach such a terrible position for home buyers trying to get a foot on the ladder? My parents moved from London to Kent in the mid 70s and bought their first house. The house was a 4 bedroom and this was on the wages of my dad who was a plumber and my mum looked after the kids. That should still be possible today. To keep the Dickens theme going, we weren't far from a Dickens landmark

if you bought it in knightsbridge its worth a few million and if you bought in it kilburn  it worth 33 grand

bob crachit earned 15 bob a week

3d an hour for 60 hours!

lucky barstoot

okay ive got a piece of string,how long is it

28cm imo.

but its worth aloooot of money,tell me how great i am

700k in Bermondsey

houses are probably more affordable now than they were in the 1970s , the problem now is borrowing the money in the first place.

houses haven't gone up that much in the last 15 years outside of London  - prices haven't even doubled .

from 1970 - 1985  prices went up roughly six fold (although inflation was higher granted)
from 1985 - 2000  prices roughly trebled

I was born in islington and lived Near Hoxton, 25 years ago, i had a chance to buy either a 3 bed terraced house  in Hoxton for 50k or a 3 bed semi in Chadwell heath for 60 k , as i didn't want to live in that sh1thole London anymore, i chose the relative countryside of essex..sold it 5 years later for 115k, thought i was the dogs boll0x, the Hoxton houses were then going for 75k...N
ow the Chad heath house would be worth 325k and the Hoxton house £1.25 million....
HINDSIGHT DOH

in fact  buying a house in the 1970s was a risky business  because of the high interest rates and high income  tax - you were certainly kept poor  - this probably explains why council housing was a popular choice at the time ,rents were much lower in real terms

Join the club Dambuster, I bought a house in Blackheath in the late 80's at an auction. Tarted it up and rented it out for 18 months subsequently sold it to the family who rented it from me. I made a very good profit but I absolutely cringe at what it's worth now. Hindsight indeed!

Last time I was in Blackheath was the 80s. Nice feel about the place.

I think Glenn Tilbrook used to live there.

go over the hill and your in lewisham,the irony of london is a 5 minute walk from a good area and your in a crime zone.greenwich and deptford would be another example

20k?

http://www.rightmove.co.uk/property-for-sale/property-63989758.html

19 Sep 2017
52 St Cuthbert Street, BB10 £69,995
29 Aug 2017
30 St Cuthbert Street, BB10 £53,000
17 Jul 2017
21 St Cuthbert Street, BB10 £55,000


seems a good deal hamster

House prices have gone up because, unlike in the past, there are millions of people who don't pay for their house. Especially in London
When the government, ie you and me and everyone and no one are paying for these houses up and down the country that and that more than anything else is why house prices are rising

They are not linked to the ability to pay for millions of people, that skews the market

How can people in London afford to live in London? well the answer is this, millions of them cant, but they don't have to worry because they are not paying

Is the correct answer^^^^

Property developers in London realised there was a fortune to be made building apartments for overseas investors. Dread to think how much dodgy money has been dumped into the London housing market.

it is not that which drives the market, of course it has at the top end  London has always attracted the wealthy even moreso in the past. It is the millions of everyday people that areimportant, and that is what has changed dramatically in the last few decades
In London eg at least one in four are on housing benefit

council housing? the original idea for council housing under the Bevin government was affordable housing for the working man, the important word being working
and not a form of social engineering

there was no mention for example of pregnant single mothers

they were the responsibility of the family, perhaps that's why there were not so many of them despite there not being the pill until 1967

the cost of housing benefit in London alone is something like 7 billion a year, probably more.
That is a lot of billions of pounds, every year, going into houses that people are unable to afford pushing prices up

its no wonder house prices are unaffordable

I don't much like London, or London people

That house in Burnley is surprisingly cheap.

lfc1971..
Most London people don't live in London anymore, because London isn't for Londoners

lfc your talking bollix.. plenty of us londoners still live in london

He ain't talking bollox, you are pal.White flight is accelerating at an alarming rate.London is a $hithole.

some parts are , im south east and i dont know many who have left PAL

There is a shortfall of around 170,000 new builds just to keep up with annual demand, this is ofc by design.

Property as PJ Proudhon suggested 'is theft', but was the default investment route for the majority of people.

There was an interesting Moneybox episode on radio 4 recently that people might want to find on podcast.
It was in search of the magic money tree

They actually went to the place where the bonds are auctioned and new money is ordered and given the banks.
What very few people realise I suspect is that of all the money printed under QE only about 0.8% went to enterprise to encourage growth, the vast majority went as everyone might guess, to banks as cheap money but the rest actually got spent directly into private ownership of homes.

houses shot up between 1998 and 2008 .

the last ten years hasn't seen that much of an increase outside London ..maybe only about 50 %