Property is NOT in a bubble

[DimPrawn]

Crest Nicholson reveals average price of new homes is now £439,000 | Daily Mail Online

Housebuilder Crest Nicholson has revealed the average price for one of its new build homes has now climbed to £439,000, which is 15.7 times the average annual UK wage of around £28,000.

The company, which focuses on southern England and the Midlands, saw a robust 13 per cent rise in revenues to £473.8million for the six months to April 30 , with the number of homes delivered up by 11 per cent.

Still cheap as chips. I'm not worried until we hit the 100x average wage multiplier.

[TwoWolves]

What get's me is that housebuilders have lobbied the government to relax building regulations on the pretext of people needing homes but then build homes that only about 10% can afford and the government thinks this is great. The rubbish newbuilds are more expensive than 40-year-old houses, that are better built too.

Next recession is going to be a bloodbath, nobody learnt anything.

[GreenMirror]

Wages do not drive house prices.

Even those who bought just before the "crashes" of 1989 and 2007 have been minted.

Bring on the next recession so we can fill our boots.

Any houses built will be sold to foreigners and then left empty.

[WTFH]

Any houses built will be sold to foreigners and then left empty.

And that is a source of income for the government, while not putting any extra strain on local resources and keeping the house prices artificially high.

[sasguru]

Can't wait for the next crash. Something tells me it'll be sooner rather than later .

[GreenMirror]

Can't wait for the next crash. Something tells me it'll be sooner rather than later .

It will be a good buying opportunity. As long as the UK remains a tax haven.