House prices only go up

[minestrone]

Yeah, but your neighbours would be Scots.

Have you been in Edinburgh?

[WordIsBond]

Have you been in Edinburgh?

Not for a while. Have they banned Scots from buying houses there yet?

[AtW]

Just been gazumped on a property over the weekend. Fecking stupid market.

How much?

[PurpleGorilla]

I wonder how much of 'London' contributes to the uptick in the 'UK' figure... assuming UK includes London data.

Without London prices are nearly flat. There seems to be a North - South divide. And like anywhere, nice areas are picking up more than tulip areas.



It's useful to factor in average local wage to average local price.



And the final point to dwell on is how the 'average house' is also getting smaller (less for more);



Japan - crowded island, low interest rates, massive debt levels - might happen here?

[AtW]

Japan - crowded island, low interest rates, massive debt levels - might happen here?

Not a chance.

Interest levels in UK will be high ...

[expat]

Ireland convinced itself it had an economy, outwith Guinness nobody actually buys anything made in Ireland.

Apple products?

[AtW]

Apple products?

Cider?

[PurpleGorilla]

Not a chance.

Interest levels in UK will be high ...

What do you mean? Do you mean house prices will fall only if interest rates are high?

That would be different to the crashes of US, Japan, Italy, Spain etc...

[OwlHoot]

Japan - crowded island, low interest rates, massive debt levels - might happen here?

In Japan most houses are built of wood, on account of the regular earthquakes, and then the termites start nibbling away at the wood.

So Japanese houses are a depreciating asset, with a typical lifetime of little more than 50 years.

[AtW]

What do you mean? Do you mean house prices will fall only if interest rates are high?

That would be different to the crashes of US, Japan, Italy, Spain etc...

This time it's different (tm)