UK house price growth 'fastest for almost six years'
01/12/2020 | news | business | 1,127
Property price rises accelerated last month, the Nationwide says. but growth is set to slow next year.
1
01/12/2020 11:50:19 3 10
bbc
Enjoy it while it lasts, house prices are currently momentarily at 'peak house' for a generation to come.
38
01/12/2020 12:01:14 3 3
bbc
Why would you enjoy something being expensive?
2
01/12/2020 11:52:23 6 12
bbc
"when the trend towards working from home will be going into reverse"

Which it will.

Most people I know are fed up of WFH, commuter numbers all across the UK were rising before the England lockdown, office life in COVID-free countries like NZ is totally back to normal while in SE Asia it never went away.

Nobody can explain why the UK must and will be different. They just say it will.
5
01/12/2020 11:54:05 16 3
bbc
Have loved WFH this year, long may it continue!
22
01/12/2020 11:57:05 10 1
bbc
Ha - if you think I'm going back to spending three hours a day on the train into the City, you can think again
24
01/12/2020 11:57:13 7 1
bbc
Why will it go into reverse? Technology has been available for some time to support remote working but now people have found it and it works. Personally I will go back to some travelling to client sites but not every day as I used to, and in future will work the majority of time at home. I don't think I'll be that unusual...
25
01/12/2020 11:57:13 8 1
bbc
And most people I know love to WFH and will never go back to anything like the same working patterns. See it works both ways. Anyone who thinks we're going to return to old patterns of working or shopping is seriously off beam, that world is over.
36
01/12/2020 12:00:33 3 1
bbc
Not sure the trend will wholly reverse. A blended model is more likely.
On purchases, I swapped a flat for a semi-detached, partly to enjoy the working from home experience.
But I feel for those who don't have that option.
100
01/12/2020 12:17:24 5 1
bbc
Like many others here, I've loved WFH and certainly won't be going back any time soon. As a senior HR leader in our global company, I can also tell you that we will be making permanent changes to how we work to adjust for it going forward, covid or no covid. Lots of people want the flexibility and increased mental health benefits they get from not having to do the daily commute.
3
01/12/2020 11:53:05 7 8
bbc
Why do the BBC insist on pounding us with bad news about House Prices Inflation...
35
01/12/2020 11:55:36 4 6
bbc
Because they are a news organisation obliged to share facts and information, not just good news stories!
40
01/12/2020 12:01:24 1 2
bbc
You are spot on. When prices go up its a bad thing, when they drop its a disaster. Could the BBC publish what they are happy with?
384
01/12/2020 13:15:09 1 1
bbc
It's just news. Might be bad for you and good for others.
4
01/12/2020 11:53:55 55 15
bbc
Just waiting for a repeat of 2008 when nobody can afford the mortgages after the third wave caused by Xmas.
179
01/12/2020 12:32:12 21 8
bbc
I'm actually hoping for it, I want to upsize and if prices were to suddenly tank it usually happens in a top down manner as everyone is suddenly downsizing to get their debt under control.
245
01/12/2020 12:33:20 3 6
bbc
Third Wave: caused by media misrepresentation.
2
01/12/2020 11:52:23 6 12
bbc
"when the trend towards working from home will be going into reverse"

Which it will.

Most people I know are fed up of WFH, commuter numbers all across the UK were rising before the England lockdown, office life in COVID-free countries like NZ is totally back to normal while in SE Asia it never went away.

Nobody can explain why the UK must and will be different. They just say it will.
5
01/12/2020 11:54:05 16 3
bbc
Have loved WFH this year, long may it continue!
6
01/12/2020 11:54:19 57 10
bbc
Calm before the storm - the collapse of Arcadia, Debenhams etc will start to affect mid to lower reaches of the housing market over the coming months, which in turn will drag the rest down. Next several years ain't gonna be pretty
904
01/12/2020 16:30:23 1 1
bbc
Doomed! We're doomed, and marooned!
985
01/12/2020 17:37:47 2 0
bbc
This is the joy of a service economy. When the opportunity is lost, all is lost.

It is going to take years to crawl out of this hole.

We need to reshore our manufacturing.
7
01/12/2020 11:54:38 3 4
bbc
It seems to me that this is cloud cuckoo land. It seems to me that there are relatively few good quality properties available, and temporarily, a small surplus of potential buyers. There will be a market correction soon, and I only hope that it isn't too drastic
8
01/12/2020 11:54:38 324 44
bbc
This is hilarious. All these people rushing to take advantage of stamp duty easing and also fear of missing out. Stamp duty has just gone on to the price of the house. These are probably the same people who bulk bought toilet roll in the spring. This time next year they will be in negative equity.
28
01/12/2020 11:58:52 91 58
bbc
Not sure those moving to avoid an unfair tax share much in common with panic buyers!
127
01/12/2020 12:21:58 4 5
bbc
Not really, given that nearly all lenders have required at least a 15% deposit for the last few months.
183
01/12/2020 12:32:46 18 1
bbc
Negative equity only matters when you need to sell or remortgage though. Take out a new 5Y fix, or even a 10Y if you're that worried, and assuming you keep paying down the mortgage in the meantime it's very unlikely you'll be in negative equity when it matters.
227
01/12/2020 12:40:16 2 2
bbc
Maybe house prices will come down but by and large homeowners will be protected by some scheme or other.
289
01/12/2020 12:54:07 10 3
bbc
Don't underestimate the steps the govt will go to prevent house prices from falling. Govts of all flavours have supported house prices for the past 20 years.
389
01/12/2020 13:17:51 2 1
bbc
Agreed, although the reality is that they won't plan on moving next year. You're also missing out on the fact that significant numbers of people had foolishly put off buying a first home or upgrading from 1 bed flats, perhaps to start a family. The stamp duty cut was like pouring petrol on a fire in the face of that demand. Those people are victims of circumstance & will have felt they had to buy!
But the house you’re moving from also made money... keep on renting off your mum bro. Xx Removed
413
01/12/2020 13:23:02 9 4
bbc
The difference is stamp duty is up-front capital which is then gone forever. In any case stamp duty needs to permanently go. It's ridiculous to be paying tens-of-thousands on already taxed income. No wonder the market is so volatile here.
421
01/12/2020 13:24:04 0 3
bbc
I hope so then I can go bargain hunting
433
01/12/2020 13:26:27 1 2
bbc
Not if you bought a house that was listed prior to the changes.

Not that hard also to work out if a property price is inflated.

If you don't do your research then you only have yourself to blame.
517
01/12/2020 13:30:20 0 2
bbc
and then they will be moaning we aren't paying their mortgage for them.
653
01/12/2020 14:24:02 2 1
bbc
It is hilarious. Hilarious that we were already in the process of moving when the stamp duty holiday was announced and I found our I would be about £8.5k better off which covered the costs of moving and didn't wipe out my savings. Also knocked down the vendors by £10k on the price and that was in July so I'm not complaining.
654
01/12/2020 14:25:02 1 1
bbc
Never read so much rubbish. SD is a cash payment, regressive and takes hard cash out of the economy. True, house prices increase because of the cut, but spread over 25-30yrs £6k is less than £10 per month. The cash put aside for SD is now spent in the real economy (saving millions of jobs).
724
01/12/2020 14:58:17 0 2
bbc
yeah who wants to have a negative equity of toilet roll
730
01/12/2020 15:02:48 0 2
bbc
the amount of people who seem to have missed this is unreal. Sell now, wait till April and you will be way way better off buying. Its going to plummet.
824
01/12/2020 15:50:54 0 0
bbc
Agree - house prices going up at a time of economic downturn and rising unemployment just seems bonkers. Might be a good time to sell though!
830
01/12/2020 15:53:15 0 0
bbc
...well, I think every little helps. especially in these difficult times of course the real winners are people buying big houses with big money and scrupulous people having cashed in on inflated PPE contracts
879
01/12/2020 16:16:48 0 0
bbc
Wait, does this mean I don't need to hoard toilet paper anymore? It'll be a relief as I've had to sleep in the garden as there was no room left in the house. I was even thinking of buying a bigger house, so this is going to save me a fortune.
01/12/2020 18:44:28 0 0
bbc
Don’t forget the 59% off restaurant meals, rushing to catch Covid!!
Ch
01/12/2020 21:33:34 1 0
bbc
Not on mine it didn't. Asking price never changed. So the £5k I saved I used to furnish the place. I bought as much as I could manufactured in the UK - and got my car serviced at a small local garage. And no I didn't panic buy anything.
9
01/12/2020 11:54:56 10 7
bbc
house prices here are the most expensive. anywhere in europe is half the price and for a larger often better home. cant understand why we are so expensive. its a rip off. ther is no justification at all for it other than greedy developers who have had it to good for to long. need legal curbing now to curtail the greed.
10
01/12/2020 11:55:10 41 32
bbc
I'mm really hoping for a housing crash so my hard working children can afford their first shoe box, this country has a sick attitude when it comes to keeping dry and warm, thanks for that Thatcher..
26
01/12/2020 11:57:52 14 18
bbc
After this Covid has passed and Brexit is thrown in... it will be akin to the days of Mrs Thatcher.....
134
01/12/2020 12:22:32 2 5
bbc
Mug!
01/12/2020 20:33:05 0 0
bbc
I think you can blame Blair and Cameron for the mass migration that has ramped rents and prices.
11
Bob
01/12/2020 11:55:29 13 5
bbc
As with last month's report this is fuelled by larger properties and people cashing in on their built-up wealth and the pointless stamp duty exemption.

As Land Registry data shows, detached houses rising the most and a growing gap in growth between first-time buyers and existing owners, which existing owner growth far outpacing FTBs.

Indeed the low end of the market in this area is dead.
12
01/12/2020 11:55:40 10 8
bbc
We should be thinking about quality of housing in the U.K. not house prices.

Quality not quantity.
13
01/12/2020 11:55:58 214 14
bbc
I just do not understand how this is happening- personally the last thing I’d do at the moment is risk increasing my debt. I must be in the wrong job.
57
01/12/2020 12:07:39 90 129
bbc
Public sector.
74
01/12/2020 12:11:01 38 24
bbc
It is a common mistake many people make. They read the constant articles on the BBC web site claiming that the country is going to hell in a handcart where in fact life is good for the majority of the population.
152
01/12/2020 12:26:07 20 1
bbc
Interest rates are low. You get a better return on investments buying houses with low interest mortgage then you would get when you use the same money in a savings account. This increases the house prices (more demand), up to a level where it no longer has a better ROI than a savings account and the house prices drop again because people (investors) stop buying them.
189
01/12/2020 12:33:15 5 2
bbc
I am not sure that house price inflation is anything more than rhetoric suited to the promotion of BUILD BUILD BUILD. Of course it isnt, it is the figment of the association between Estate Agents and Developers. they feed of each other.
254
Rob
01/12/2020 12:44:18 4 1
bbc
Some people might be "down sizing" from a town house to larger/cheaper property in a less built up area.
427
01/12/2020 13:25:29 0 1
bbc
As long as you have a job and your organisation isn't run be these idiots you should be OK
450
01/12/2020 13:10:22 2 1
bbc
In my case, i'm buying (or trying to!), to not be in rental. Rental prices are above the cost of having a mortgage.
689
01/12/2020 14:41:45 0 1
bbc
Money has been printed, massive covid fraud too, the money has to end up somewhere..
Housing and stockmarket
714
01/12/2020 14:55:28 0 1
bbc
Not everyone who moves house has debt !!
744
mm
01/12/2020 15:09:08 1 1
bbc
Never overestimate the intelligence of the majority of the population of the UK
14
01/12/2020 11:56:17 463 48
bbc
Artificially caused by the unneeded stamp duty tax break.

All it has done is inflate house prices and cause a lack of rental properties, pushing up rents as well. :(
60
01/12/2020 12:08:13 368 31
bbc
This is just another side-effect of our politicians lack of understanding of the real world.

They think we buy a home based on what we want rather than what we can afford - the reality is that we all pick the nicest house we can based on the maximum we can afford. The saving on stamp simply got sucked up in higher prices.

The above is so obvious for anyone with half a brain it's almost criminal
174
01/12/2020 12:31:45 43 21
bbc
Another measure that seems to disproportionately disadvantage the young.

I am glad I'm not a teenager in this day and age. Sky high unemployment, no prospects of owning a house, born with about a £40,000 share of the national debt, and to cap it all off it is also now illegal to see my friends outside of school.

Why don't we just criminalise being young, and have done with it.
184
01/12/2020 12:32:51 12 1
bbc
Lack of rental properties was happening prior to covid. Mainly due to Gov. changes to Landlords tax (income/SDLT & now Capital Gains) & increased regulations etc (unless you own 14 or more properties (they need to protect their mates). Number of LL was at historically low levels late last year.

Covid has actually caused a drop in rental prices in city centers due to lack of demand
237
01/12/2020 12:42:01 10 9
bbc
Hey....speak for yourself.....I've just saved £15,000 :-)
492
01/12/2020 13:23:13 6 2
bbc
It has also generated a lot of other activity such as people buying new carpets etc. Solicitors and estate agents have been very busy. All of this was intended as a boost to economic activity.
502
01/12/2020 13:40:53 6 1
bbc
It was all so obvious to predict. This government
a) wants to be seen doing something
b) wants to be liked (well, Boris is desperate to be loved)
c) can neither lead, nor manage.
549
01/12/2020 13:51:20 1 1
bbc
A stamp duty saving is not enough to drive demand. You need to ensure you have the savings to borrow in the first place. In many cases across the uk the savings are not substantial, it mostly in London and surrounding areas that benefit significantly.
660
01/12/2020 14:27:51 3 1
bbc
I believe it's called supply and demand.
789
01/12/2020 15:35:06 0 0
bbc
Which was probably the intention all along.
825
01/12/2020 15:50:54 0 0
bbc
Not just that, I suspect. In times of economic turmoil and near-zero interest rates, savers will tend to invest their money in property as the only reliable long-term option. This applies in particular to older people with dismal pensions to look forward to.
965
01/12/2020 17:11:48 0 0
bbc
Many (most?) Tory MPs are BTL landlords, so they voted for this knowing that they would be paying less when adding to their portfolios.
Ch
01/12/2020 21:31:06 0 0
bbc
For me it was a good thing. I was already buying - and while there were no deals to be had prices didn't rise. So the £5k I saved on stamp duty I paid to furnish the place and buy everything I needed. So that money went strait back into the economy. The lack of rental is because for years now the gov has been discouraging that via CGT on properties sold that are not the owners primary residence
15
01/12/2020 11:56:21 9 7
bbc
i do believe prices are being inflated by estate agents for their benefit
16
01/12/2020 11:56:22 18 20
bbc
Nah, I'm sure there will be another 'gold rush' as people will start coming to this powerful and economically stable post-Brexit Britain, and drive house prices up.

Oh, wait, it isn't going to happen; the Tories will make sure that the country goes to the dogs and everyone will want to leave and emigrate to the EU. Well, everyone except Tory cronies, of course, who will get even more minted!
50
01/12/2020 12:05:36 4 6
bbc
Yes, thats almost certainly what will actually happen...

??
17
01/12/2020 11:56:28 5 3
bbc
Guess supply and demand trumps "experts" future predictions
18
01/12/2020 11:56:34 5 5
bbc
Wait until the affects of rona really take hold. A lot of people who are using their savings are coming to the end of the line financially.
It's ok having housing price boom, but if no-one can afford them whats the point.
What we are calling for is all private ownership of housing to be made public.
19
01/12/2020 11:56:39 6 5
bbc
Mass redundancies.
Who wants a mortgage.
I've read a significat drop in price is due.
How can house prices keep going up when people can't afford them.
31
Bob
01/12/2020 11:59:26 6 2
bbc
They can't. Which means people can afford them.
20
01/12/2020 11:56:43 10 4
bbc
Back to the good old days of boom and bust......
21
01/12/2020 11:56:49 4 6
bbc
ma boi Jamie said he could get me a gaff down Runcorn for £140k, unbelievable scenes, nearly tore his bloody arm off

anyway I'm off boozer, wife giving it too much lip and the neighbours putting patio up, sounds like they're filming an episode of scrapheap challenge
2
01/12/2020 11:52:23 6 12
bbc
"when the trend towards working from home will be going into reverse"

Which it will.

Most people I know are fed up of WFH, commuter numbers all across the UK were rising before the England lockdown, office life in COVID-free countries like NZ is totally back to normal while in SE Asia it never went away.

Nobody can explain why the UK must and will be different. They just say it will.
22
01/12/2020 11:57:05 10 1
bbc
Ha - if you think I'm going back to spending three hours a day on the train into the City, you can think again
23
01/12/2020 11:57:09 3 4
bbc
I find that very difficult to believe. Not here in my county. It's depressing! Debenhams closing will be the straw that breaks the camels back.
2
01/12/2020 11:52:23 6 12
bbc
"when the trend towards working from home will be going into reverse"

Which it will.

Most people I know are fed up of WFH, commuter numbers all across the UK were rising before the England lockdown, office life in COVID-free countries like NZ is totally back to normal while in SE Asia it never went away.

Nobody can explain why the UK must and will be different. They just say it will.
24
01/12/2020 11:57:13 7 1
bbc
Why will it go into reverse? Technology has been available for some time to support remote working but now people have found it and it works. Personally I will go back to some travelling to client sites but not every day as I used to, and in future will work the majority of time at home. I don't think I'll be that unusual...
2
01/12/2020 11:52:23 6 12
bbc
"when the trend towards working from home will be going into reverse"

Which it will.

Most people I know are fed up of WFH, commuter numbers all across the UK were rising before the England lockdown, office life in COVID-free countries like NZ is totally back to normal while in SE Asia it never went away.

Nobody can explain why the UK must and will be different. They just say it will.
25
01/12/2020 11:57:13 8 1
bbc
And most people I know love to WFH and will never go back to anything like the same working patterns. See it works both ways. Anyone who thinks we're going to return to old patterns of working or shopping is seriously off beam, that world is over.
10
01/12/2020 11:55:10 41 32
bbc
I'mm really hoping for a housing crash so my hard working children can afford their first shoe box, this country has a sick attitude when it comes to keeping dry and warm, thanks for that Thatcher..
26
01/12/2020 11:57:52 14 18
bbc
After this Covid has passed and Brexit is thrown in... it will be akin to the days of Mrs Thatcher.....
109
01/12/2020 12:19:17 5 4
bbc
I've done better under a tory government than labour cabinet and my politics are that of Tony Benn and NWICO go figure that
To many people and not enough room to build will ensure we are in this loop forever as politicians these days will never tackle the elephants in the room whether we like it or not. In fact Thatcher was sign post rather than a weather cock, the last person to lead than be led
27
01/12/2020 11:58:28 5 13
bbc
At the moment mortgages are too cheap. The market is being propped up by the fact that savers are getting dismal rates on their investors. Pensioners are suffering as a result of this - they seem to be the only section of the community that isn't getting much help from the government - prices of food and many other necessities are rising, and pensioners are being squeezed.
45
01/12/2020 12:03:06 0 10
bbc
Pensioners own most of the big houses! and have the best pensions!
92
xxo
01/12/2020 12:15:58 0 5
bbc
The same pensioners who are in paid-off 4 bedroom detached houses, living off cushy final salary pensions?
8
01/12/2020 11:54:38 324 44
bbc
This is hilarious. All these people rushing to take advantage of stamp duty easing and also fear of missing out. Stamp duty has just gone on to the price of the house. These are probably the same people who bulk bought toilet roll in the spring. This time next year they will be in negative equity.
28
01/12/2020 11:58:52 91 58
bbc
Not sure those moving to avoid an unfair tax share much in common with panic buyers!
394
01/12/2020 13:18:31 1 3
bbc
Well, think of it as a form of greed!
29
01/12/2020 11:58:59 62 8
bbc
Good to see the government spending billions on harebrained Help to Buy schemes in order to saddle the taxpayer with bad debts, keep house prices sky high and ensure that housebuilders asphalt over swathes of productive farmland. Meanwhile back in the real world, millions are unemployed and High Street retail is being ground to dust.
297
01/12/2020 12:55:57 19 4
bbc
Yes but who is to blame for the High Street retail issues. Two culprits: rip off retailers (why are prices in the UK so high c/w elsewhere?) and joe public's addiction to internet shopping. Both guilty as charged.
30
Bob
01/12/2020 11:59:01 17 5
bbc
The house price situation is also part of the reason why the high street is failing.

When land and property values are high, rents are priced to suit.
19
01/12/2020 11:56:39 6 5
bbc
Mass redundancies.
Who wants a mortgage.
I've read a significat drop in price is due.
How can house prices keep going up when people can't afford them.
31
Bob
01/12/2020 11:59:26 6 2
bbc
They can't. Which means people can afford them.
32
01/12/2020 11:59:38 137 24
bbc
Simple demand and supply. Population continues to rise, politicians refuse to talk about it and the number of residences grows slowly as the countryside is churned up to build them. Prices will continue to rise with economic fluctuations on the way.
37
01/12/2020 12:00:56 57 23
bbc
And then bang..... we fall off a cliff.
64
01/12/2020 12:09:01 16 8
bbc
I agree. The government's only response to financial problems is "build, build, build". For example, nobody wants HS2, it is a white elephant, and it destroys the natural environment. We left the EU partly to get control of illegal immigration - what's been done about it so far? "Build, build, build" is totally unsustainable, outside an Orwellian dystopia.
188
al
01/12/2020 12:33:15 13 6
bbc
Well, other countries experience higher population growth, but house prices dropped for the past year! Too simplistic to suggest that house prices are linked to increasing population - most migrants cannot afford/be able to purchase homes for at least the first 3-5 years. House prices likely linked to private investors buying properties as an investment - mainly China/MEast/India.
204
01/12/2020 12:36:13 4 10
bbc
Only last year people were going on about EU nationals causing the house/rent prices to be so high. Funny how nothing has changed.
263
01/12/2020 12:47:12 15 5
bbc
It's amazing how the demand side of the equation is never spoken about. If you don't slow down population growth then you will never keep up with demand.
284
01/12/2020 12:53:04 5 1
bbc
That would almost make sense if the quality of new builds was anywhere near on par with houses built 20+ years ago. The next supply of houses will carry the premium price tag with inferior material
776
01/12/2020 15:26:34 3 3
bbc
Simple supply+demand doesn't fit the facts.

1968: Av. house £3,716 Av. wage £895, GB pop 54m, GB homes 18m
333 homes per 1000 people
House=4.1x wage

2019: House £233,366 Wage £27,976, pop 65m, homes 28m
430 homes per 1000
House=8.3x wage.

Prices https://landregistry.data.gov.uk/app/ukhpi/browse
Housing stock (XLS) https://tinyurl.com/yxffnus9
01/12/2020 18:29:16 3 1
bbc
Not sure I follow your thread there Nick. The Greens and Save our Countryside lobbies prevent building on new land, and yet, only 1% of GB land is used for buildings! But you are absolutely right about the over population issue.
33
RM
01/12/2020 11:59:40 118 8
bbc
"House prices remain vulnerable to fall next year, when the trend towards working from home will be going into reverse, stamp duty will be higher, and mortgage rates still will be above their pre-Covid level, due to the weakened labour market."
-
And HMG will use tax payers money to extend their 'help to buy scheme' to keep house prices artificially high.
303
01/12/2020 12:57:01 44 3
bbc
Hit the nail on the head. Govts of all colours will go all in, do whatever it takes, to stop house prices from falling. Negative interest rates will be next.
01/12/2020 19:54:37 0 0
bbc
Can't see the trend of working from home going into reverse. House prices are related to the availability to procure loans. Borrowers keep the banks afloat. Can't see them missing out on a good thing. Not only house prices are high. Everything is affected by our confetti money and is overpriced. Look at the price of a bar of chocolate. We pay ourselves too much for very trivial labour.
34
01/12/2020 12:00:09 17 2
bbc
It'll stop as soon as the Stamp Duty holiday ends.
3
01/12/2020 11:53:05 7 8
bbc
Why do the BBC insist on pounding us with bad news about House Prices Inflation...
35
01/12/2020 11:55:36 4 6
bbc
Because they are a news organisation obliged to share facts and information, not just good news stories!
2
01/12/2020 11:52:23 6 12
bbc
"when the trend towards working from home will be going into reverse"

Which it will.

Most people I know are fed up of WFH, commuter numbers all across the UK were rising before the England lockdown, office life in COVID-free countries like NZ is totally back to normal while in SE Asia it never went away.

Nobody can explain why the UK must and will be different. They just say it will.
36
01/12/2020 12:00:33 3 1
bbc
Not sure the trend will wholly reverse. A blended model is more likely.
On purchases, I swapped a flat for a semi-detached, partly to enjoy the working from home experience.
But I feel for those who don't have that option.
32
01/12/2020 11:59:38 137 24
bbc
Simple demand and supply. Population continues to rise, politicians refuse to talk about it and the number of residences grows slowly as the countryside is churned up to build them. Prices will continue to rise with economic fluctuations on the way.
37
01/12/2020 12:00:56 57 23
bbc
And then bang..... we fall off a cliff.
195
01/12/2020 12:34:02 2 1
bbc
you might?
461
01/12/2020 13:31:47 4 2
bbc
Only lemmings go over a cliff. Onwards and upwards UK
01/12/2020 18:14:32 1 0
bbc
Is that at 00:00 on the 1st January 2021?
1
01/12/2020 11:50:19 3 10
bbc
Enjoy it while it lasts, house prices are currently momentarily at 'peak house' for a generation to come.
38
01/12/2020 12:01:14 3 3
bbc
Why would you enjoy something being expensive?
39
01/12/2020 12:00:58 206 14
bbc
Here is the inconvenient and rather sad truth- those people who can afford to buy homes now will still be able to afford them next year and the year after. It’s those that can’t afford homes now that will be those losing their jobs and effectively paying for the fallout from this. Interest rates going nowhere and property prices will continue to rise!
63
01/12/2020 12:08:50 59 73
bbc
aka anyone born after 1981.
116
01/12/2020 12:20:23 4 4
bbc
such as divorced blokes
206
01/12/2020 12:36:29 8 6
bbc
It is my view that interest rates at this low level is the cause of many painful issues and does nothing to assist. Interest rates should be between 4 and 8 % that will provide some return for investors and also is very affordable for borrowers. But is it too late to lift them as there are so many naive borrowers who will suffer severe hardship possibly bankruptcy. Tough they should have been wise
310
01/12/2020 12:57:57 9 5
bbc
Ponzi schemes always collapse when you don't have enough suckers to buy in at the bottom, or in our case young people can't afford to buy in at the bottom. It won't be pretty but it will sort itself out.
445
01/12/2020 13:28:42 2 4
bbc
Absolutely, the under 35's can't afford to buy a house and have more of a chance to losing their jobs we need more affordable and social housing it's not rocket science
474
01/12/2020 13:34:33 6 2
bbc
Buying your first house isn’t easy. But it’s certainly doable. Me and my partner bought our house at 24 (3 years ago). We moved in with her dad, living in one room, no luxuries or takeaways. We took advantage of help to buy schemes and after 2 years, working non stop and saving every penny we could we finally got there. I was on 18k a year and she was working part time while studying.
486
01/12/2020 13:37:59 3 1
bbc
Largely true, though of course there will be some home owners who will lose their jobs and houses, and small business owners going under
3
01/12/2020 11:53:05 7 8
bbc
Why do the BBC insist on pounding us with bad news about House Prices Inflation...
40
01/12/2020 12:01:24 1 2
bbc
You are spot on. When prices go up its a bad thing, when they drop its a disaster. Could the BBC publish what they are happy with?
375
01/12/2020 13:14:00 1 1
bbc
Don't be so daft!
41
01/12/2020 12:01:40 76 15
bbc
I've been in the housing market for nearly 50 years. I've learned a) it's always unpredictable, b) looking back, it's the single best investment I've made over that time. Anyone who thinks they know what's coming is guessing. It may be good, it may be bad.
86
01/12/2020 12:14:35 115 28
bbc
It's the best investment because it's been inflated beyond belief to the point where anyone under 40 can barely afford a studio flat based on their own income. It's the biggest generational steal in history. Utterly shameful.
684
01/12/2020 14:39:44 5 1
bbc
I've done alright out of property myself, but you're short sighted if you look at government policy over the last 30 odd years and believe that the conflation of housing and investment have been a positive thing for the country
01/12/2020 20:47:14 1 0
bbc
So many 'ok boomer' responses in one thread, where do you even start? Lecture you about how easy it is now they don't have to do it themselves and had it far, far easier. Their parents would be proud.
42
01/12/2020 12:02:16 141 4
bbc
Meantime where I live, they're are sub dividing two bedroom back to backs into 4 bed HMOs. Often 2 dwellers per room. 8 people to share a small kitchen and shower only bathroom. When will this madness end?
48
01/12/2020 12:03:45 190 35
bbc
When they stop overpopulation
65
01/12/2020 12:09:05 3 6
bbc
You sound like you live in West London, it has not got any further so far!
66
01/12/2020 12:09:12 8 1
bbc
That's not only a housing problem.
218
01/12/2020 12:38:29 8 5
bbc
I have never understood anyone who would want to live in a HMO, it has to be claustrophobic, and cannot be healthy for any children living under those conditions....
378
01/12/2020 13:14:07 0 1
bbc
Harrow?
493
01/12/2020 13:38:58 3 1
bbc
This is called student shared accommodation. I used to live in similar, it was upto the house to keep occupied so students move out and cheap rent allows people to move for work. The Junior Dr in the front room saved his deposit for his first house.
659
BOF
01/12/2020 14:27:02 2 4
bbc
Last report I saw said that, since the beginning of this year 800,000 people had left this country. With the economy the OECD forecasts for us, compounded with Brexit it is a trend likely to continue. Unfortunately we will lose many of those we need most.
841
01/12/2020 15:58:06 1 0
bbc
Back to backs were not built after their banning in 1871. What remained have been top of the list for demolition ever since. If some remain in your area it would be a great surprise and even then they could not be converted into "4 bed HMOs".
883
Jim
01/12/2020 16:19:08 3 0
bbc
UK is vastly overpopulated, recently through very high levels of immigration (often unrecorded). Evidence suggests that UK census is several million short of true figure

Time for ID cards, & without an ID card you cant access facilities such as education, health, work, benefits, housing etc. Too many people access without checks & this is actually putting children @ risk eg unregistered fostering
886
01/12/2020 16:21:21 1 0
bbc
Sounds like my road in Ipswich. Multiple HMOs built despite local outcry. Too many cars for the street, but nobody can afford to move out. I can never get my work vehicle (only vehicle anywhere near.
Multiple houses with grown 30 something kids still living at home.

Meanwhile, someone with only slightly better job than me lives in a 3 bed detached on the outskirts..
43
01/12/2020 12:02:54 77 49
bbc
Long term, house prices will keep going up if immigration keeps outpacing house building. However, continued house building destroys the landscape and increases pollution.
51
01/12/2020 12:06:34 53 46
bbc
So the folks being born here won't need houses?

Rolleyes...
55
01/12/2020 12:07:17 17 20
bbc
Immigration isn't outpacing house building. There are plenty of homes for all. Rich people are simply using them as an investment opportunity where they leave thousands of homes empty.

If very few homes are built, this will continue to constrict availability.
133
01/12/2020 12:22:29 8 6
bbc
Ah but every time a developer/builder sells a house they want £1k more for the next and the next. They push the prices up themselves and very carefully control the flow of new properties to keep the prices high so building new ones won't drive prices down.

If you want prices to go down better stop people having kids to lower demand!
224
01/12/2020 12:39:21 8 12
bbc
Not the immigrants again!!!

You got rid of them all. Nothings changed.

Look around any town in the evening and tell me whos in. Houses are empty because they are second homes (to Brits).
246
01/12/2020 12:38:36 2 2
bbc
Have you taken a train ride through the Midlands recently. House building of any kind will only improve the area?
311
01/12/2020 12:57:58 1 5
bbc
https://publications.parliament.uk/pa/ld201617/ldselect/ldeconaf/20/20.pdf

Whilst immigration is a factor, a chronic lack of housing development (for decades) is the main culprit. Scarcity usually leads to increased prices.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/900910/Land_Use_in_England__2018_-_Statistical_Release.pdf

We have space...
44
01/12/2020 12:03:03 86 6
bbc
Prices are being inflated by a mistaken presumption that the stamp duty holiday means a saving...it’s not, all it’s doing is fuelling demand and that, in turn, drives up prices. Just like 1989 when duel tax relief ended, the unsustainable price inflation led to a crash.
If you’re looking to buy then this time next year will be a bargain bonanza
52
01/12/2020 12:06:43 48 27
bbc
We nearly lost out home thanks to the policy of Thatcher in 1989.... they were dark days.
315
01/12/2020 12:58:55 3 2
bbc
Prices won't fall, govt won't allow it
Ch
01/12/2020 21:41:16 0 0
bbc
lol... three decades people have been calling the bargain bonanza. It never happens without other issues that make it not such a bonanza after all - like mad interest rates, employment, economic issues, tighter lending. It's a pipe dream of the feckless. No stamp duty is hardly much fuel for a bubble anyway.
27
01/12/2020 11:58:28 5 13
bbc
At the moment mortgages are too cheap. The market is being propped up by the fact that savers are getting dismal rates on their investors. Pensioners are suffering as a result of this - they seem to be the only section of the community that isn't getting much help from the government - prices of food and many other necessities are rising, and pensioners are being squeezed.
45
01/12/2020 12:03:06 0 10
bbc
Pensioners own most of the big houses! and have the best pensions!
83
01/12/2020 12:13:42 2 1
bbc
So I shouldn't have bought a house, or saved for my future?

And the fact that my house has more than tripled in price doesn't help me, as I'm not planning to move again.

I'd actually be happy if prices hadn't risen, then the current youngsters would have a much better chance of buying somewhere to live...
105
01/12/2020 12:18:53 7 1
bbc
That's because most pensioners have paid into the system for 45 years or more.. ,the entitled generation don't seem to be able to grasp this.
46
01/12/2020 12:03:16 22 9
bbc
Fools saving a few thousand on stamp duty but paying tens of thousands extra for the actual house...

2 of 3 of Sunaks key interventions have been a disaster - eat out to help and his stamp duty holiday to further inflate house prices. He got it right with furlough though.
54
01/12/2020 12:07:12 6 2
bbc
Everything is knee jerk reaction to events of the day!!
Philip Green but in politics not the high street shops!
01/12/2020 21:13:18 0 0
bbc
Cashflow - perhaps they're not fools after all.
47
01/12/2020 12:03:35 22 8
bbc
As long as you build no new homes, prices and competition will always go through the roof.

When an essential of human life, a roof over our head, costs more than you can ever save in a lifetime there is a major issue with our Capitalism.

You can't have a Capitalism if no-one has any capital. When all the economic, legal political and personal power lies with an elite that's Neo-feudalism.
42
01/12/2020 12:02:16 141 4
bbc
Meantime where I live, they're are sub dividing two bedroom back to backs into 4 bed HMOs. Often 2 dwellers per room. 8 people to share a small kitchen and shower only bathroom. When will this madness end?
48
01/12/2020 12:03:45 190 35
bbc
When they stop overpopulation
115
AP
01/12/2020 12:20:00 4 27
bbc
Some of us actually want to have kids, even if you don't
249
01/12/2020 12:43:14 2 8
bbc
You first
362
01/12/2020 13:10:08 11 12
bbc
British politicians will never admit that there is an overpopulation problem in the U.K. It's a case of: "The more people I control, the more important I will be on the world stage, and the more power our military will have in the next world conflict."
428
01/12/2020 13:25:45 4 8
bbc
They will never stop over populating. And we're not over populated - there is a lot of land to build on - if they build. The reason we'll always need immigrant labour? They work harder. Put you in another country you'll work harder. Come from the developing world, you'll work 10x harder. When you got you nice big tele at home, of the indigenous population, the majority are happy to coast.
476
01/12/2020 13:35:08 1 5
bbc
Do you have children if so who would you send back? Europe is reducing in birth rate that will cause it's own problem It's a known fact when countries become more developed the birth rate dosn't change that much but those between 15-74 live longer and that is why the population of the world is growing read Factfulness by Hans Rosling
480
01/12/2020 13:36:31 2 1
bbc
too true
491
01/12/2020 13:38:32 1 1
bbc
So never!
649
01/12/2020 14:23:02 2 1
bbc
When they stop treating home ownership as a means to profiteer rather than a basic human need and right.
705
01/12/2020 14:51:23 8 1
bbc
Can't do that as it upsets the religious nutjobs who think that they've got a god given right to breed like rats
768
01/12/2020 15:20:40 2 1
bbc
EXACTLY..over population the common denominator of everything that is wrong in this country.

(Or is it still a country not just a piece of land)
905
01/12/2020 16:31:06 2 0
bbc
And unfettered immigration and the continual expansion of lunatic 'Christian' churches which are a mask for people smuggling and slavery.
Ch
01/12/2020 21:49:32 1 0
bbc
You mean immigration ... You didn't fool anyone lol
49
01/12/2020 12:05:22 13 14
bbc
It’s a bit weird isn’t it? House prices going up on average, while most people are worse off and are going to be even worse off after the stupid brexit thing. So where’s the money coming from? Is it the Russians and Chinese and oil rich Arabs buying up Britain? It’s not “ordinary” british people, that’s for sure. They are the people suffering the most because of this inequality, thanks To Johnson.
59
Bob
01/12/2020 12:07:54 13 3
bbc
Hint: it isn't people on furlough or those who didn't get a pay rise this who are causing this.

It is wealthy folk who want to take advantage of the stamp duty exemption and those who lived in flats in the city deciding a box room isn't much fun in a lockdown.
62
01/12/2020 12:08:32 4 1
bbc
Not everyone is worse off...for some, just the opposite. Job secure and saving thousands on holidays, weekends away, eating and drinking out.
71
01/12/2020 12:10:29 5 3
bbc
I'm a conveyancing solicitor and I have to tell you that the last two months have been the busiest I have experienced in the last 34 years.

I haven't had one Chinese , Arab or Russian client in that time .
78
01/12/2020 12:11:50 2 1
bbc
Most people aren't worse off. The majority are either better off, or even stevens.
16
01/12/2020 11:56:22 18 20
bbc
Nah, I'm sure there will be another 'gold rush' as people will start coming to this powerful and economically stable post-Brexit Britain, and drive house prices up.

Oh, wait, it isn't going to happen; the Tories will make sure that the country goes to the dogs and everyone will want to leave and emigrate to the EU. Well, everyone except Tory cronies, of course, who will get even more minted!
50
01/12/2020 12:05:36 4 6
bbc
Yes, thats almost certainly what will actually happen...

??
43
01/12/2020 12:02:54 77 49
bbc
Long term, house prices will keep going up if immigration keeps outpacing house building. However, continued house building destroys the landscape and increases pollution.
51
01/12/2020 12:06:34 53 46
bbc
So the folks being born here won't need houses?

Rolleyes...
139
01/12/2020 12:23:19 1 3
bbc
hi liz
241
01/12/2020 12:42:18 14 10
bbc
A third of the "folks being born here" are to a foreign-born mother - It's not just the 250,000 pa net migrants, it's also the 200,000 new-borns the previous migrants produce.
386
01/12/2020 13:16:18 6 5
bbc
If it was just about internal population growth, we could keep up with demand...that's the point of Unmewt's comment. Net migration is +300k. It's that that we can't keep up with
44
01/12/2020 12:03:03 86 6
bbc
Prices are being inflated by a mistaken presumption that the stamp duty holiday means a saving...it’s not, all it’s doing is fuelling demand and that, in turn, drives up prices. Just like 1989 when duel tax relief ended, the unsustainable price inflation led to a crash.
If you’re looking to buy then this time next year will be a bargain bonanza
52
01/12/2020 12:06:43 48 27
bbc
We nearly lost out home thanks to the policy of Thatcher in 1989.... they were dark days.
104
AP
01/12/2020 12:18:30 3 3
bbc
Nearly? There were plenty of us that did.
203
01/12/2020 12:35:58 2 3
bbc
Think yourself lucky then, many didn't and have never recovered
352
01/12/2020 13:06:28 2 5
bbc
Therefore Great Days!
575
01/12/2020 14:01:21 5 7
bbc
Thatcher was a cancer.
682
01/12/2020 14:38:35 4 5
bbc
You should have stress tested your ability to service your debt better BEFORE buying , back in 1990 I broke up with a partner bought her out of a house re-mortgaged and found that 75% of my after tax income was going on my big mortgage 4 x salary but at much higher rates than now , I packed the place with lodgers in the short term and got a new job with a 50% salary rise , problem solved
700
01/12/2020 14:45:57 3 3
bbc
Thanks to thatchers right to buy scheme, i managed to buy my house at a cost i could afford.
956
01/12/2020 17:04:34 0 0
bbc
Nearly... but you didn't lose your home.
53
01/12/2020 12:07:00 4 8
bbc
I live edge of Lake District Park.

Housing development of 500+ houses about half way through, as soon as house is finished folk move in 50% is affordable housing, older housing stock also selling well - same where i grew up in the South.

Despite gloom peddlers there is cash flowing well in UK economy....
68
01/12/2020 12:10:01 6 2
bbc
It's flowing very well between those who have the cash and is being sucked out of the pockets of those who have very little.
302
01/12/2020 12:57:01 0 2
bbc
All borrowed cash. Int rates low, but at some point in next 3 years they are going to go up, once they reach 3% the housing crash will come, I promise you that. Don't forget there will be an impact from Brexit in some price rises, there will be job losses next few years. We are facing a correction that most economist are predicting will take 10 - 15 years to recover from, maybe longer.
46
01/12/2020 12:03:16 22 9
bbc
Fools saving a few thousand on stamp duty but paying tens of thousands extra for the actual house...

2 of 3 of Sunaks key interventions have been a disaster - eat out to help and his stamp duty holiday to further inflate house prices. He got it right with furlough though.
54
01/12/2020 12:07:12 6 2
bbc
Everything is knee jerk reaction to events of the day!!
Philip Green but in politics not the high street shops!
43
01/12/2020 12:02:54 77 49
bbc
Long term, house prices will keep going up if immigration keeps outpacing house building. However, continued house building destroys the landscape and increases pollution.
55
01/12/2020 12:07:17 17 20
bbc
Immigration isn't outpacing house building. There are plenty of homes for all. Rich people are simply using them as an investment opportunity where they leave thousands of homes empty.

If very few homes are built, this will continue to constrict availability.
213
01/12/2020 12:37:16 12 7
bbc
170,000 new homes built in 2019.... net immigration over the same period was 230,000 - sure some are couples and families under one roof, but to suggest immigration is not outpacing house building is not entirely true.
223
01/12/2020 12:39:19 6 7
bbc
You clearly are unaware of Government attacks on residential landlords in the last couple of years forcing many to sell their second properties that they had invested in as a pension pot!
252
01/12/2020 12:43:37 7 3
bbc
There are a tiny amount of houses left empty by the wealthy. The majority of empty houses are going through probate, about to be refurbished, being refurbished etc.
56
01/12/2020 12:07:28 23 10
bbc
This is what happens when you have too many people chasing after too few houses.

People hoping for a crash are going to be disappointed.
229
01/12/2020 12:40:39 13 7
bbc
Its foreign loot. There are hundreds of thousands of empty homes in this country, rotting away while the owners launder their money through the willing City Of London.

To ensure they get unimaginably rich, the Tories pump up the prices with your taxes through 'help To Buy'

There is no 'housing market'.

There is no 'housing shortage'.

There is a boot on your throat and you want MORE MORE of it
277
01/12/2020 12:50:33 3 3
bbc
Oh a crash is coming, if not next year certainly within the next 2 or 3. Read the articles by many economists and you see the lessons of the past have not been learned. A big crash was coming before Covid, this will just be a blip on the whole scale of the next 10 years. What's the point of buying a house now with a £250,000+ mortgage, 5% Duty already lost to 6.5% price rise! The crash is coming.
13
01/12/2020 11:55:58 214 14
bbc
I just do not understand how this is happening- personally the last thing I’d do at the moment is risk increasing my debt. I must be in the wrong job.
57
01/12/2020 12:07:39 90 129
bbc
Public sector.
119
01/12/2020 12:20:36 50 16
bbc
Absolute rubbish. Most of the public sector workers I know around my age still rent... but I guess that goes against your delusions
147
01/12/2020 12:24:30 49 13
bbc
Yep, lets all join the race to the bottom again and stick the boot into the Public Sector along the way.
166
01/12/2020 12:29:17 29 10
bbc
The public sector pays peanuts and you can't pay whatever tax you like on PAYE. I left an administrative role in the NHS for a similar role in a university getting a 25% in salary with less actual work and stress.
182
01/12/2020 12:32:44 53 10
bbc
Yeah, all those teachers, nurses, firemen, park rangers - driving around in their Range Rovers, buying up all the £1M+ housing stock...
186
01/12/2020 12:32:52 52 6
bbc
Just once I’d like to see the likes of you (you know.., the ones who complain about everything from potholes to lazy teachers) manage without public services. You’ll certainly be wiping your own a*** in old age without them. Gonna be hard if your head’s still stuck up it!
200
01/12/2020 12:35:04 15 6
bbc
Public sector who have a pay freeze and lower pay than the private sector, albeit more security? I doubt it.
253
01/12/2020 12:44:17 13 4
bbc
If you think the public sector is safe, you haven't been paying attention. Headcounts at so many councils and civil service sections have been decimated.
285
Lee
01/12/2020 12:53:07 10 2
bbc
Oh look at the little victim of divide and conquer politics. Pay attention, our government has conned you and millions of other tax payers out of billions of pounds. The stamp duty not coming into the public spending pot has been hoovered up by banks who'll benefit from increased mortgage levels. No wonder this country is on its knees - check out Sam, an average member of our electorate!
388
01/12/2020 13:17:37 4 2
bbc
Most of the Public Sector hasn't had a pay rise for over 10 years... not a single extra penny.

They are unlikely to see any rise in the near future either despite the fake news pushed out by the government this spring (2%) and last week (£250). They haven't funded their announcements so it won't be paid.
419
01/12/2020 13:23:36 4 1
bbc
You obviously have no idea. Do you even have a job? The public sector is often under-funded, poorly managed and is quite frankly not a nice place to work in a lot of cases.
518
01/12/2020 13:31:41 2 1
bbc
I doubt it, everyone in the public sector have just been told they wont be getting a pay rise for ten years, after ten years of already not having one.
58
01/12/2020 12:07:42 2 7
bbc
A temporary rise fuelled by the stamp duty holiday. Anyone listing now is unlikely to benefit unless it's chain free be and a cash purchase. Prices will drop soon
214
01/12/2020 12:37:53 0 2
bbc
In other words - foreign speculators, asset strippers, tax dodgers and money launderers.

Otherwise known as - the people who control the Tory government

Trebles all round!
49
01/12/2020 12:05:22 13 14
bbc
It’s a bit weird isn’t it? House prices going up on average, while most people are worse off and are going to be even worse off after the stupid brexit thing. So where’s the money coming from? Is it the Russians and Chinese and oil rich Arabs buying up Britain? It’s not “ordinary” british people, that’s for sure. They are the people suffering the most because of this inequality, thanks To Johnson.
59
Bob
01/12/2020 12:07:54 13 3
bbc
Hint: it isn't people on furlough or those who didn't get a pay rise this who are causing this.

It is wealthy folk who want to take advantage of the stamp duty exemption and those who lived in flats in the city deciding a box room isn't much fun in a lockdown.
67
01/12/2020 12:09:23 0 1
bbc
Yep!
102
01/12/2020 12:17:55 3 2
bbc
Strange, then, that most of the properties on the market in my area are owned by 'ordinary' working families, with a healthy mix of blue- and white-collar workers.
Still, don't permit simple, observable facts deter you from plucking a good, old-fashioned 'us and them' argument from thin air.
14
01/12/2020 11:56:17 463 48
bbc
Artificially caused by the unneeded stamp duty tax break.

All it has done is inflate house prices and cause a lack of rental properties, pushing up rents as well. :(
60
01/12/2020 12:08:13 368 31
bbc
This is just another side-effect of our politicians lack of understanding of the real world.

They think we buy a home based on what we want rather than what we can afford - the reality is that we all pick the nicest house we can based on the maximum we can afford. The saving on stamp simply got sucked up in higher prices.

The above is so obvious for anyone with half a brain it's almost criminal
80
01/12/2020 12:12:49 7 6
bbc
Only almost ?
103
Bob
01/12/2020 12:18:07 49 4
bbc
Actually it isn't that politicians don't understand the real world but rather you not understanding the politician.

If you believe that Rishi gave the cut because he thought it would have no effect on prices, you are mistaken.

The cut was made to fuel activity in the market and protect government investments in property.
141
01/12/2020 12:23:50 16 1
bbc
Yes, but you can borrow the vast majority of any increased house price. You need cash in hand to pay SDLT. It makes a big difference to a lot of buyers.
173
01/12/2020 12:31:15 2 14
bbc
No you are incorrect, its is not "almost" criminal it is a fully criminal act that central government, and local government also, have the brain power of a mole, hence "wakamole"
197
01/12/2020 12:34:03 15 34
bbc
"nicest house we can based on the maximum we can afford", and therein lies the problem

Afford, NOW. no one thinks about tomorrow, once they have approval to stretch beyond their reasonable means they go for it. then buy a new bathroom on tick, a new kitchen on tick, sofa etc etc
A year later we get covid, they are redundant and who exactly picks up the pieces for their unadulterated greed?
281
01/12/2020 12:52:10 11 7
bbc
Ahmed the politicians understand the real world all too well. House price growth disproportionately benefits the wealthy landowners, these are the Tory donors, expect more help for 1st time buyers when the stamp duty holiday expires.

They won't change their behaviour until you change your vote.
299
01/12/2020 12:56:18 3 2
bbc
Totally agree! Was looking to move, have been considering for a while tbh, but not at the moment. The prices are so inflated as to be almost comical. How can a property almost identical to one sold just before Covid be advertised at over 20% higher. Forget stamp duty. This increase blows that away! Nuts! Mind you I have seen lots of properties falling fast and a number re-enter the market.
414
01/12/2020 13:23:10 3 3
bbc
The well meaning Govt might may caught short by their naiviety but that isn't criminal it's the behaviour of buyers think they are going to get a bargain when a little bit of savvy would tell then not to go above the cost they would normally have paid with stamp duty.
584
01/12/2020 14:04:07 1 1
bbc
True, but it's also got the house market moving, when previously it had come to a standstill.
635
01/12/2020 14:17:49 3 1
bbc
I think it’s you that doesn’t understand the reason for the SD cut. House sales support the wider economy through furniture, tradesmen, DIY etc. If house sales collapse, then the wider economy collapses further.

SD cut means higher house prices (true) but it also means millions of jobs are saved because there’s still people buying homes and spending money in the real economy.
648
01/12/2020 14:22:29 1 1
bbc
You're right but I think that even if the stamp duty holiday has stopped people being able to knock prices down as much, it's increased the number of transactions - boosting the economy as well as associated spending when moving house (decorating, super new tv, sofas etc).
846
01/12/2020 15:59:36 0 0
bbc
Usually people will actually try to buy the item which is just beyond their reach, financially. This applies whether the item is a house, or a car, or whatever. In the case of a house, they usually forget to factor in the likelihood that interest rates will rise, which then pushes the monthly payment beyond their means. Around 1990 interest rates hit 15% for a while - need I say more.
986
SJ
01/12/2020 17:40:41 0 0
bbc
Ahmed, what you describe is exactly how a housing economist described it to me. It's not just you the Tories are ignoring, they ignore the housing market experts.
61
01/12/2020 12:08:31 9 6
bbc
It's ironic that removing stamp duty to save 5% has pushed up prices by 6.5%. Prices will come crashing down next year - and they need to!
73
01/12/2020 12:10:55 2 2
bbc
However where are you actually going to move TOO ?
85
Why
01/12/2020 12:14:19 2 3
bbc
All this talk of prices coming down are wishful thinking by those that need prices to come down. What will cause the crash? Those who have money will fill the void of those that have not and you will end up renting off them.
87
01/12/2020 12:14:52 1 2
bbc
Not ironic, logical. Saving £10,000 on stamp duty means a £10k increase to your deposit & therefore greater borrowing capacity. So prices will always rise by more than the stamp duty savings due to gearing
262
01/12/2020 12:47:00 1 2
bbc
I read an artical back in the 1990s where a person in the housing industry (a senior quanity surveyor) said that at that time house prices were approx 20% too high, he foretold that it would only get worse and that the housing market being too hot will just lead to more and more bubble crashes. Looks like he was right. I would not buy a house now in next 5 years because a big crash is coming!
49
01/12/2020 12:05:22 13 14
bbc
It’s a bit weird isn’t it? House prices going up on average, while most people are worse off and are going to be even worse off after the stupid brexit thing. So where’s the money coming from? Is it the Russians and Chinese and oil rich Arabs buying up Britain? It’s not “ordinary” british people, that’s for sure. They are the people suffering the most because of this inequality, thanks To Johnson.
62
01/12/2020 12:08:32 4 1
bbc
Not everyone is worse off...for some, just the opposite. Job secure and saving thousands on holidays, weekends away, eating and drinking out.
39
01/12/2020 12:00:58 206 14
bbc
Here is the inconvenient and rather sad truth- those people who can afford to buy homes now will still be able to afford them next year and the year after. It’s those that can’t afford homes now that will be those losing their jobs and effectively paying for the fallout from this. Interest rates going nowhere and property prices will continue to rise!
63
01/12/2020 12:08:50 59 73
bbc
aka anyone born after 1981.
171
01/12/2020 12:30:16 21 7
bbc
I was born in 84 and I am just about to pay off my first house. Was squeaky bum time around the 2008 crash though!
220
01/12/2020 12:38:59 17 5
bbc
I know many young people who have worked hard, saved hard and are now home owners. But not in overpriced London and the south east
273
Me
01/12/2020 12:49:28 30 21
bbc
Loads of people born after 1981 have their own properties, you'll find they were the ones getting of their backsides doing something about it, while the others just sat moaning about what they didn't have. You can thumb me down for generalising if you like, but I was really just mirroring your comment.
399
01/12/2020 13:20:03 5 2
bbc
Not true. I was born in 86 and have managed it in one of the country's most expensive cities. But I think anyone of a similar age living alone will struggle for sure.
463
01/12/2020 13:32:36 5 4
bbc
Born in '84. Bought a ex council house in south east London for £250k in 2012 with a 10% deposit and paid it off last year. Sold it for £470k and purchased a £675k house in the country. It's not impossible, just difficult and with the right focus and effort you can achieve what you want. And no... there was no bank of mum and dad. I left their 1 bed house when I was 18.
570
01/12/2020 13:58:43 2 3
bbc
Dry your eyes, close your social media accounts, and get a job
590
01/12/2020 14:05:28 0 2
bbc
Don't you mean anyone born after 1971!
02/12/2020 08:08:49 0 0
bbc
Not just them, I am Gen X from the mid 1970s and have been out of work since May (spent Summer teaching the kids at home) the 4th time in my career to date. It is a sad fact of life working for American multinations, jobs rarely last, first sign of difficulty they slash and burn.
32
01/12/2020 11:59:38 137 24
bbc
Simple demand and supply. Population continues to rise, politicians refuse to talk about it and the number of residences grows slowly as the countryside is churned up to build them. Prices will continue to rise with economic fluctuations on the way.
64
01/12/2020 12:09:01 16 8
bbc
I agree. The government's only response to financial problems is "build, build, build". For example, nobody wants HS2, it is a white elephant, and it destroys the natural environment. We left the EU partly to get control of illegal immigration - what's been done about it so far? "Build, build, build" is totally unsustainable, outside an Orwellian dystopia.
908
01/12/2020 16:32:17 2 1
bbc
Control of immigration is about more than just how many people, and who, can enter the country. A significant proportion of UK based assets, including property, are not owned by UK nationals. There seems little interest from this govt in controlling the overseas ownership of the country’s capital stock which has pushed up the price of assets to UK residents (whether recent immigrants or not).
42
01/12/2020 12:02:16 141 4
bbc
Meantime where I live, they're are sub dividing two bedroom back to backs into 4 bed HMOs. Often 2 dwellers per room. 8 people to share a small kitchen and shower only bathroom. When will this madness end?
65
01/12/2020 12:09:05 3 6
bbc
You sound like you live in West London, it has not got any further so far!
357
01/12/2020 13:08:14 2 1
bbc
Nope, it happens in Leeds and Manchester.
42
01/12/2020 12:02:16 141 4
bbc
Meantime where I live, they're are sub dividing two bedroom back to backs into 4 bed HMOs. Often 2 dwellers per room. 8 people to share a small kitchen and shower only bathroom. When will this madness end?
66
01/12/2020 12:09:12 8 1
bbc
That's not only a housing problem.
59
Bob
01/12/2020 12:07:54 13 3
bbc
Hint: it isn't people on furlough or those who didn't get a pay rise this who are causing this.

It is wealthy folk who want to take advantage of the stamp duty exemption and those who lived in flats in the city deciding a box room isn't much fun in a lockdown.
67
01/12/2020 12:09:23 0 1
bbc
Yep!
53
01/12/2020 12:07:00 4 8
bbc
I live edge of Lake District Park.

Housing development of 500+ houses about half way through, as soon as house is finished folk move in 50% is affordable housing, older housing stock also selling well - same where i grew up in the South.

Despite gloom peddlers there is cash flowing well in UK economy....
68
01/12/2020 12:10:01 6 2
bbc
It's flowing very well between those who have the cash and is being sucked out of the pockets of those who have very little.
366
01/12/2020 13:11:20 1 1
bbc
How is it being sucked out of pockets who have little cash exactly?

Sounds like a vacuous soundbite from Jeremy (no rascism here) Corbyn
69
01/12/2020 12:10:16 114 10
bbc
The problem with Toonsers moving out to the country is their inability to grasp that crop spraying, muck and slurry spreading and the concommitant odour issues with farming and that the lack of facilities and snow and flooding are part and parcel of country living and not a reason to complain to the nearest authority... and that empty local roads are a death trap not a race track
190
01/12/2020 12:33:17 94 7
bbc
I had a discussion with a "Toonser" about the fact that they were thinking of moving to our village but put off by all the proposed incoming housing developments. Then I mentioned that they were probably the source of the problem. No-one local can afford the new builds. You couldn't make it up.
234
01/12/2020 12:41:30 9 3
bbc
I so agree, I live in rural East Sussex and in a country lane surrounded by various activities, none of which are the experience of urban folk.

Our local council agreed to building an exec housing development of 5 houses on a disused country garden centre. One resident took to his electric bicycle to remonstrate with a local farmer over the bonfire. guess what was said ?
288
LG
01/12/2020 12:53:58 3 8
bbc
If you're going to use big words then learn to spell them correctly first!
651
01/12/2020 14:23:17 4 1
bbc
Call them townies round my way, every snow fall rear wheel drive exec cars fill the ditches, every time the river bursts its banks they'll be a hatch back with a flooded engine with some one sitting on top of it, mind you it does help out the local mechanic so can't complain to much
906
01/12/2020 16:31:14 0 0
bbc
I wouldn't mind muck being sprayed at all -- that's great for the environment. It's the pesticides I'd be concerned about.
70
Why
01/12/2020 12:10:29 10 5
bbc
We are a small island with a lot of inhabitants, land is in short supply and God is not making any more.

Wait at your peril!
209
01/12/2020 12:36:40 3 4
bbc
Get into debt! The banks need your money! Your grandchildren and great grandchildren can have the bill!

Its the Baby Boomer Brexiter mantra
49
01/12/2020 12:05:22 13 14
bbc
It’s a bit weird isn’t it? House prices going up on average, while most people are worse off and are going to be even worse off after the stupid brexit thing. So where’s the money coming from? Is it the Russians and Chinese and oil rich Arabs buying up Britain? It’s not “ordinary” british people, that’s for sure. They are the people suffering the most because of this inequality, thanks To Johnson.
71
01/12/2020 12:10:29 5 3
bbc
I'm a conveyancing solicitor and I have to tell you that the last two months have been the busiest I have experienced in the last 34 years.

I haven't had one Chinese , Arab or Russian client in that time .
72
01/12/2020 12:10:43 15 5
bbc
We need to give the youngsters a chance to get on the ladder. High Street shops converted into apartments maybe ?
168
01/12/2020 12:29:45 6 0
bbc
They tried to introduce low cost starter homes etc to do this. However, they only benefit the first time buyer. the price of such properties goes up and up, so the next generation of youngsters can't afford them. How many one room apartments can you get in an average Debenhams?
202
01/12/2020 12:35:48 1 2
bbc
By which you ACTUALLY mean - "get the young into appalling debt by forcing them into utterly substandard overpriced housing because the market is controlled by foreign money launderers & Tory donor property speculators".

Meantime, the Tories pour billions upon billions of your money into propping up house prices, with your taxes, through Help To Buy

Those grouse moors won't pay for themselves!
794
01/12/2020 15:37:15 0 0
bbc
Like the idea, but wouldn't like to support leasehold sales. It's the biggest scam going.
61
01/12/2020 12:08:31 9 6
bbc
It's ironic that removing stamp duty to save 5% has pushed up prices by 6.5%. Prices will come crashing down next year - and they need to!
73
01/12/2020 12:10:55 2 2
bbc
However where are you actually going to move TOO ?
13
01/12/2020 11:55:58 214 14
bbc
I just do not understand how this is happening- personally the last thing I’d do at the moment is risk increasing my debt. I must be in the wrong job.
74
01/12/2020 12:11:01 38 24
bbc
It is a common mistake many people make. They read the constant articles on the BBC web site claiming that the country is going to hell in a handcart where in fact life is good for the majority of the population.
99
01/12/2020 12:17:10 17 8
bbc
Yeah it's ok for those of us who have a decent income (of which I am one) ...
76
DVa
01/12/2020 12:11:16 49 6
bbc
when are we going to acknowledge that high house prices are detrimental to the next generation? what's going to happen when only a select group of people own a house?
98
01/12/2020 12:16:38 18 1
bbc
They are detrimental to all but those about to retire or in their 'forever' home. Think about it if you're in your 40's and need to upsize but the price of the houses you're looking at have rocketed up in value then you are going to have to borrow more and pay it off for longer.
151
01/12/2020 12:25:45 11 0
bbc
What happens in a game of Monopoly? Most of the players lose their money, and can't even afford to pay rent. Ultimately only one player is left holding all the money and assets. It's quite realistic really.
242
01/12/2020 12:42:40 6 2
bbc
More homelessness and more overcrowding as people stay living at home or in shared flats etc. This will eventually have a big impact onnthe economy amd the mental health of many. We are heading for that dystopian world we see so much of in aSci-fi films. The rich getting richer and living outside main society with main society in the dregs, getting poorer and poorer. This will lead to more crime.
933
01/12/2020 16:43:12 2 2
bbc
£170K increase on our house in 4 years ?? No benefit to us at all ?? But I'm sure both daughters will benifit when we are gone ???? Be prepared to graft a little and anybody can do it.
951
01/12/2020 17:00:53 0 0
bbc
They eventually die and leave it to the next generation.
77
01/12/2020 12:11:27 5 6
bbc
Good. OAPs are living in an anti-OAP society. It began with the coalition government abolishing the Income Tax 'higher personal allowance' for the over 65s. It was 45% higher than the standard allowance. Then pension increases were lowered by using CPI instead of RPI. The savings were confiscated by near zero interest rates, then free TV licence killed. The house is our only source of money.
120
01/12/2020 12:21:04 2 3
bbc
"The savings were confiscated by near zero interest rates"

They didn't take our savings, just stopped paying high interest rates, when interest rates generally fell.

And why should I have a bigger tax allowance than my 30-something nephew - he has more things he -needs- to spend money on than I do.

But grumbly old folks like you are why the youngsters complain about us oldies...
136
01/12/2020 12:22:43 2 1
bbc
Are you SERIOUS?! Young people are paying extortionate rent on your generations' second homes whilst struggling to get on the ladder you and your govts pulled up.
180
01/12/2020 12:32:38 2 1
bbc
The most pampered generation in this country's history and STILL you whine
49
01/12/2020 12:05:22 13 14
bbc
It’s a bit weird isn’t it? House prices going up on average, while most people are worse off and are going to be even worse off after the stupid brexit thing. So where’s the money coming from? Is it the Russians and Chinese and oil rich Arabs buying up Britain? It’s not “ordinary” british people, that’s for sure. They are the people suffering the most because of this inequality, thanks To Johnson.
78
01/12/2020 12:11:50 2 1
bbc
Most people aren't worse off. The majority are either better off, or even stevens.
79
01/12/2020 12:12:16 1 2
bbc
city dwellers (who enjoyed a boon in city centre house prices until Covid ) now deserting the city for the countryside and coast, house prices in built up areas will drop and the house prices in C & C will rocket. not looking good for city and town centres.
60
01/12/2020 12:08:13 368 31
bbc
This is just another side-effect of our politicians lack of understanding of the real world.

They think we buy a home based on what we want rather than what we can afford - the reality is that we all pick the nicest house we can based on the maximum we can afford. The saving on stamp simply got sucked up in higher prices.

The above is so obvious for anyone with half a brain it's almost criminal
80
01/12/2020 12:12:49 7 6
bbc
Only almost ?
107
01/12/2020 12:19:05 19 13
bbc
Its not just stamp duty. Its Brexit and its the pandemic making people realize that living in London central is past its prime. Sell and move to the country.
The boom started before the stamp duty announcement.
81
Bob
01/12/2020 12:12:51 7 21
bbc
Fastest growth in Six years, So much for project fear about Brexit!! Our country will thrive!!
You ignorant twot! Removed
124
01/12/2020 12:21:41 1 2
bbc
What if they start to build on the kwitter's unicorn farms?
176
01/12/2020 12:32:07 1 0
bbc
Its foreign speculators and tax dodgers. London is the world capital of dirty money and the property market is used to rinse it.

Hundreds of thousands of homes stand empty, as tax losses or just somewhere to park dodgy cash.

Higher property prices just mean more inescapable debt for the young, granddad.

But what do you care about them? If fact, what do ANY of you lot care about them?
201
CH
01/12/2020 12:35:41 0 1
bbc
Probably because people like me are desperately trying to flog our houses before the Brexit disaster hits and the property values plummet overnight.
221
01/12/2020 12:39:10 0 0
bbc
House prices, after initial fall in2008 - 2010 started increasing exponentially to wages throughout the last decade - Brexit will have little affect on house prices, even job losses presently having no effect. House are now an investment like stocks and shares and prey to investor's knee jerk reactions, but any slow down is brief and they soon increase. More cheap land for self builds needed.
01/12/2020 23:10:43 0 0
bbc
Brexit effects will hit when we eventually leave on Dec 31st, you have been cushioned by the transition period (which we have wasted), the gloves will be off next year.
if you look close behind the covid smokescreen, you will see it has already started..
do you know where our next 700 million customers are coming from?, no one else does..........
82
01/12/2020 12:13:42 11 2
bbc
Spend an extra 6.5% to save up to 5%. Meanwhile the job cuts continue and pay freezes pile up.
45
01/12/2020 12:03:06 0 10
bbc
Pensioners own most of the big houses! and have the best pensions!
83
01/12/2020 12:13:42 2 1
bbc
So I shouldn't have bought a house, or saved for my future?

And the fact that my house has more than tripled in price doesn't help me, as I'm not planning to move again.

I'd actually be happy if prices hadn't risen, then the current youngsters would have a much better chance of buying somewhere to live...
84
01/12/2020 12:13:58 92 12
bbc
Tory govt should never have suspended stamp duty. They're created a bubble that's going to burst as the end of March deadline approaches.

Brexit, especially a no deal Brexit will not be kind on our economy. It'll be a real drag on recovery. Some people buying houses now at inflated prices could find themselves in negative equity a couple of years from now.
89
01/12/2020 12:15:05 29 5
bbc
And we had the politicians saying no more boom and bust.... Tory and Labour.
132
Why
01/12/2020 12:22:29 2 6
bbc
What rubbish. There is loads of money about and private pensions are going into the housing market as it is the only growth. Brexit will not be cruel to the UK economy it is a myth - neither will it be good. Money breeds money and those that have it will fill the void left by those without.
193
01/12/2020 12:33:42 3 0
bbc
Back in the old days when the price of a house was bought by a mortgage of 3.5 times wages, if people could not afford to buy, the market slowed and prices dropped, people could buy again and prices rose ... this was generally at steady pace. Now prices rise more in a year then they did in 5 years back in 70s and 80s. Av price of houses in 1980 was about 4 times annual salary, now it is 8 times!
61
01/12/2020 12:08:31 9 6
bbc
It's ironic that removing stamp duty to save 5% has pushed up prices by 6.5%. Prices will come crashing down next year - and they need to!
85
Why
01/12/2020 12:14:19 2 3
bbc
All this talk of prices coming down are wishful thinking by those that need prices to come down. What will cause the crash? Those who have money will fill the void of those that have not and you will end up renting off them.
177
01/12/2020 12:32:08 1 1
bbc
"Those who have money will fill the void of those that have not and you will end up renting off them."

And you think that's a good thing?
41
01/12/2020 12:01:40 76 15
bbc
I've been in the housing market for nearly 50 years. I've learned a) it's always unpredictable, b) looking back, it's the single best investment I've made over that time. Anyone who thinks they know what's coming is guessing. It may be good, it may be bad.
86
01/12/2020 12:14:35 115 28
bbc
It's the best investment because it's been inflated beyond belief to the point where anyone under 40 can barely afford a studio flat based on their own income. It's the biggest generational steal in history. Utterly shameful.
140
01/12/2020 12:23:40 27 23
bbc
I invested in a winner. Some folk smoked money away, some kept the bookies and brewers in luxury. Some bought snazzy cars. Spending wisely often pays off. Not a 'steal', just prudence.
196
01/12/2020 12:34:03 22 4
bbc
It depends where you want that studio flat! Where I live in the midlands a studio flat is around £70k, which i think is pretty much affordable to anyone with a job!
230
01/12/2020 12:40:39 12 9
bbc
Move somewhere cheaper!
259
01/12/2020 12:45:10 14 3
bbc
This situation was caused by over lending which pushed up house prices far out stripping wages. When I was young you could only borrow two and a half times your annual salary.
317
01/12/2020 12:46:53 9 1
bbc
Depends where you need to live. 1 bedroom homes start from 50k in Greater Manchester.
697
01/12/2020 14:44:47 7 4
bbc
Buy with a partner and don't live in London , round here , West Midlands 2 bedroom houses are available from £110,000 , someone on an average wage of £27,000 with a 10% deposit could buy on their own , there is no generational steal just generational envy , for much of my first 10 years as a mortgage payer I paid 10% or higher rates , now most fixed are < 2.0% , stop wasting money on tech etc
01/12/2020 23:02:49 2 0
bbc
not quite, I did not buy my first house until I was 34 in 1991 (recession) and my interest rate was 15%, that was pretty tough, and a risk.
seems to be a school of thought that us oldies had it handed to us on a plate....
61
01/12/2020 12:08:31 9 6
bbc
It's ironic that removing stamp duty to save 5% has pushed up prices by 6.5%. Prices will come crashing down next year - and they need to!
87
01/12/2020 12:14:52 1 2
bbc
Not ironic, logical. Saving £10,000 on stamp duty means a £10k increase to your deposit & therefore greater borrowing capacity. So prices will always rise by more than the stamp duty savings due to gearing
88
01/12/2020 12:14:58 32 7
bbc
Well then the housing market is clearly fine and healthy and therefore needs no more government interventions to prop it up.
154
01/12/2020 12:26:41 40 2
bbc
Agree, should never have introduced these schemes in first place. Mortgage crisis in 2008 was caused by greedy banks lending far too much to people and when they couldn'ty afford to borrow anymore, the government stepped in with Help to Buy and other schemes, which just kept prices far too high - even 10 years of austerity did not peg the price rise. Leave house prices to the markets.
84
01/12/2020 12:13:58 92 12
bbc
Tory govt should never have suspended stamp duty. They're created a bubble that's going to burst as the end of March deadline approaches.

Brexit, especially a no deal Brexit will not be kind on our economy. It'll be a real drag on recovery. Some people buying houses now at inflated prices could find themselves in negative equity a couple of years from now.
89
01/12/2020 12:15:05 29 5
bbc
And we had the politicians saying no more boom and bust.... Tory and Labour.
589
01/12/2020 14:05:21 2 5
bbc
It's worth remembering that had Corbyn won in 2019 there would, irrespective of any mistakes the present crop of politicians have made, been no more 'Boom & Bust' it would have been ALL BUST as he changed everything to fit the Marxist Ideological concept that he follows.
90
01/12/2020 12:15:06 4 4
bbc
I work in the industry and its not just stamp duty. People have been waiting for Brexit to unravel and its actually young people who don't want to pay rent that are the largest proportion of buyers. All of which are first home buyers and would not have to pay stamp duty under 300k regardless.
More certainty now that Covid has forced UK and EU to agree. If there's a deal house prices will fly.
122
01/12/2020 12:21:33 2 1
bbc
What a terrible prospect. It is a sad fact that home buying has become contaminated with property speculation, because many people have more money than they need, and they don't know what to do with it other than buy houses. It is all so totally dysfunctional.
91
01/12/2020 12:15:39 5 3
bbc
One wonders what work is actually being done in order to ensure that mortgage applicants will be able to pay the monthly instalments in the long-term. Precious little, I suspect. Anybody remember what happened about 10 years ago - 10:1 loan to income ratios were commonplace. Interest rates are ridiculously low at the moment, what will happen if they rise?
108
01/12/2020 12:19:14 4 0
bbc
Since 2014 BoE rules limited lenders to loans of a max of 4 x income in all but 15% of their lending.

All lending has to be stress tested so assumes an interest rate of 5.5% (even if you are on a fixed rate mortgage at say 2%!)
27
01/12/2020 11:58:28 5 13
bbc
At the moment mortgages are too cheap. The market is being propped up by the fact that savers are getting dismal rates on their investors. Pensioners are suffering as a result of this - they seem to be the only section of the community that isn't getting much help from the government - prices of food and many other necessities are rising, and pensioners are being squeezed.
92
xxo
01/12/2020 12:15:58 0 5
bbc
The same pensioners who are in paid-off 4 bedroom detached houses, living off cushy final salary pensions?
93
01/12/2020 12:16:07 43 4
bbc
And coming around the corner...

1990 again....And record repossessions from people who cant afford their mortgages, after being laid off !
101
01/12/2020 12:17:53 20 43
bbc
Thanks to Mrs Thatcher for that....
123
01/12/2020 12:21:38 5 1
bbc
Harsh, but at least house prices will be back to where they should be, that will only be a respite, the prices will shoot up again exponentially to wages and savings. The housing market is bust. Too many 'business' reasons behind buying houses and more land lords in the market due to Buy to Rent etc. The government Help to Buy just helps prices to stay high and rise further. Get rid of schemes.
439
01/12/2020 13:27:17 2 0
bbc
It really depends on interest rates. The 1990s issue was not really about jobs. It was a massive overnight increase in interest rates. The government are spending vast amounts of our money to try & keep people in work or at least solvent & the BoE are keeping rates low, so that doesn't happen again. Time will tell.
716
01/12/2020 14:55:49 5 2
bbc
Far more support now , my mortgage at 13% interest rate in 1990 was 75% of my take home pay for a short period , a house I bought for £109K in 1988 at age 24 I sold for £95K in 1995 , people now have absolutely no idea of the risks and volatility of the past , things are not tougher now very far from it
94
01/12/2020 12:16:24 3 3
bbc
Spirit_of_Iona - you speak the truth, I live in the west country and the number of them here in the summer is awful, they don't wear masks, don't social distance, leave litter everywhere and are rude and obnoxious.
95
01/12/2020 12:16:25 4 4
bbc
FOOLS, SAVE A FEW GRAND AND LOOSE A GREAT DEAL LATER WHEN THE PRICES FALL,WE WARNED!
149
01/12/2020 12:25:25 0 2
bbc
You don't have to shout!
96
Why
01/12/2020 12:16:30 4 5
bbc
All the people waiting for housing to come down will end up renting off all the people who have money and want the house prices to rise.

If you are waiting you are destined to rent!
97
01/12/2020 12:05:58 1 6
bbc
House prices will continue to rise and it will benefit those who already have a house. When houses become unaffordable, banks will end up lending over a greater period of time such that 40 year terms become the new normal. Lenders will probably also lend more than x5 household income to make it work. House prices rise because people are ok with the debt
76
DVa
01/12/2020 12:11:16 49 6
bbc
when are we going to acknowledge that high house prices are detrimental to the next generation? what's going to happen when only a select group of people own a house?
98
01/12/2020 12:16:38 18 1
bbc
They are detrimental to all but those about to retire or in their 'forever' home. Think about it if you're in your 40's and need to upsize but the price of the houses you're looking at have rocketed up in value then you are going to have to borrow more and pay it off for longer.
627
01/12/2020 14:15:58 3 1
bbc
The price of the home they're selling will also have risen though. It's all relative.
74
01/12/2020 12:11:01 38 24
bbc
It is a common mistake many people make. They read the constant articles on the BBC web site claiming that the country is going to hell in a handcart where in fact life is good for the majority of the population.
99
01/12/2020 12:17:10 17 8
bbc
Yeah it's ok for those of us who have a decent income (of which I am one) ...
2
01/12/2020 11:52:23 6 12
bbc
"when the trend towards working from home will be going into reverse"

Which it will.

Most people I know are fed up of WFH, commuter numbers all across the UK were rising before the England lockdown, office life in COVID-free countries like NZ is totally back to normal while in SE Asia it never went away.

Nobody can explain why the UK must and will be different. They just say it will.
100
01/12/2020 12:17:24 5 1
bbc
Like many others here, I've loved WFH and certainly won't be going back any time soon. As a senior HR leader in our global company, I can also tell you that we will be making permanent changes to how we work to adjust for it going forward, covid or no covid. Lots of people want the flexibility and increased mental health benefits they get from not having to do the daily commute.