Boomed (II) = Doomed (II)?

**AtW** · 21 June 2007, 20:06

I noticed a lot more "For Sale" signs locally. One of the houses that I like has it for at least 9 months...

**zathras** · 22 June 2007, 08:43

Originally posted by King Cnvt

http://news.bbc.co.uk/1/hi/business/6227666.stm

The number of properties being sold in England, Wales and Northern Ireland has reached its highest level since the property boom of the late 1980s.

Figures from HM Revenue and Customs (HMRC) show that 1,859,000 flats and houses were sold in 2006-07.

That was the largest number sold since 1988, the peak of the boom before property prices and sales crashed in the early 1990s.

Both sales and prices in the 2006-07 financial year rose by 11%.

In 1988, the number of homes sold, in just England and Wales, stood at a record level of 2,148,000 before tumbling by more than half a million the following year.

That slump came as interest rates were raised sharply by the government, and house prices also fell, leading to negative equity for some mortgage-holders.

Oh Dear!

There is a daft amount of building going on in my area. At least two factories levelled to make way for new <strike>apartment</strike> dog kennel developments. Two bedroom apartments north of £300K and this in what was described as the worst place in England to live (Hackney)

PS I don't agree with that - It's horrible in places, but where else can you get to Heathrow in around an hour, Standsted in 35 minutes (I've done it), close to Liverpool Street mainline station and are a short bus ride to the world's leading theatre district as well as all the tourist attractions that London as a whole offers.

**Numptycorner** · 22 June 2007, 08:48

I have noticed the houses in Buckinghamshire are taking longer to sell now. A few months ago, For sale signs were up for a couple of weeks at most. Now I'm seeing the same houses with the same for sale signs for months.

**chicane** · 22 June 2007, 08:51

Originally posted by zathras

PS I don't agree with that - It's horrible in places, but where else can you get to Heathrow in around an hour, Standsted in 35 minutes (I've done it), close to Liverpool Street mainline station and are a short bus ride to the world's leading theatre district as well as all the tourist attractions that London as a whole offers.

Yes, and when you've experienced the joy of flying from both Stansted and Heathrow at short notice, and then been to a few theatres in central London, you can step out of your overpriced dog kennel in the morning to discover that next door is a crack den.

**pickle** · 22 June 2007, 09:37

Originally posted by chicane

Yes, and when you've experienced the joy of flying from both Stansted and Heathrow at short notice, and then been to a few theatres in central London, you can step out of your overpriced dog kennel in the morning to discover that next door is a crack den.

That would be handy.

**Troll** · 22 June 2007, 09:42

Originally posted by King Cnvt

http://news.bbc.co.uk/1/hi/business/6227666.stm

The number of properties being sold in England, Wales and Northern Ireland has reached its highest level since the property boom of the late 1980s.

Oh Dear!

But the properties are being sold not put up for sale also the population has increased by 4 million since the last crash... ergo there must be more willing buyers

Boomed I tell ya!

**BlasterBates** · 22 June 2007, 10:29

Yes that's true, the problem is in a "bubble" the rise in prices often accelerates up until the point that the market crashes, that's why "bubbling" markets are scary.

Not that I want to worry anyone.

Boomed (II) = Doomed (II)?