Property: Always a good investment!!!!!

[sasguru]

Let me guess - they did not have Liebor Govt in that period?

Labour have been very good for me.

[thunderlizard]

The average home has almost quadrupled in value, having risen by 273% since 1959 in real terms, the Halifax found. In today's money, a typical home would have cost about £43,000 in 1959.

Aren't you surprised that the cost of a house has increased in real terms by 400% in 50 years??

[sasguru]

He's had a Labour educashun. Not very good with numbers you see.

[sasguru]

They gave it away for free after you left it.

Well more fool them considering I sold it in 2006 for £280K

[AtW]

It's not the "value" of houses that's gone up, but it's the value of money that's dropped.

HTH

[sasguru]

It's not the "value" of houses that's gone up, but it's the value of money that's dropped.

HTH

Spoken like a true bed-sitting renter.

[SuperZ]

Notice how a longer term analysis is becoming the norm, possibly to pursuade people into the market as the returns look more attractive longer term.
I think soon we'll be struggling with the 'house prices double every 10 years rule'. Round my way first time buyer flats are now below this rule, and I think later the rest of the market may follow (if first time buyers won't/can't stomp up more cash, it'll probably affect the rest of the market).

So take a 44000 flat bought in Q4 1998. As of Q4 2009 it's sold for 85000 and there are others going for around this price also. Area, West Berkshire. Still a decent return but given the surging market over the last 10 years it may be seen as ONLY just under 100% increase in value, rather than "wow". At their peak these properties were selling for just under £120,000 (wel, between 115 and 120k to be fair).

[AtW]

Spoken like a true bed-sitting renter.

I'll be moving in the next couple of months.

[gingerjedi]

Still recall my first property bought in 1995: a two bed Victorian garden property in London zone 3 - for, get this, £56K

£56k will only buy you a shed these days.

[AtW]

£56k will only buy you a shed these days.

Not even an eco shed?