Reply to: Nationwide Building Society House Price Index Dec 21

[d000hg]

Well thanks to the Covid house price boom in the NE, we have just completed the sale of our first ever home. After 16 years, Covid finally pushed the price back up to the heady heights of 2005 when we bought right at the peak before prices collapses 30%.

I don't want to brag, but we got £66k for it.

[_V_]

Well people who don't own property are clearly less important

I think this Tory government have looked at all the options...

[mattster]

I dunno, we have rooms we haven't used in 2 years and one room we literally hadn't been in for a year - we only use it to plug in an outside Christmas light and unplug in January!

We're not quite in that league, but have enough for a room for each of us, and office and a spare bedroom. Sufficient, and the kids (God willing) will be out within 10-12 years, after which smaller would suffice. What floats my boat now isn't bigger, but the same sort of size (or smaller) built well to eco standards of insulation. I think lower energy costs in retirement are going to be as good as a couple of grand on the pension.

[d000hg]

It doesn't believe me.

I dunno, we have rooms we haven't used in 2 years and one room we literally hadn't been in for a year - we only use it to plug in an outside Christmas light and unplug in January!

[northernladuk]

INKSPE!

No chauffeur?

One is allowed to drive to oneself to the stables before a ride out you know. If it's good enough for Lizzy it's good enough for me.

[WTFH]

He was in his chariot, a la Ben Hur, chasing down the peasants

Why do I picture him, not in a Roman chariot, but a French one?

[Whorty]

INKSPE!

No chauffeur?

He was in his chariot, a la Ben Hur, chasing down the peasants

[WTFH]

I was driving

INKSPE!

No chauffeur?

[northernladuk]

This time last year my partner and I were living in a 55sqm 1 bedroom apartment, cluttered AF. We needed more space so we sold the flat in the city centre and now we are living in a 150sqm 4 bedroom detached house in the outskirts. Still cluttered, still not enough space. When does it end?

It doesn't believe me. Only yesterday I was driving up the road from the East gate to the house with the horses galloping along side me with the theme tune to Brideshead Revisited on radio I was still worrying where to put all the clutter. Then I realise it's the house's staffs problem and I'm going to have to whip them again when I get in.

[PCTNN]

...if you are not already in the biggest house you are ever going to need...

This time last year my partner and I were living in a 55sqm 1 bedroom apartment, cluttered AF. We needed more space so we sold the flat in the city centre and now we are living in a 150sqm 4 bedroom detached house in the outskirts. Still cluttered, still not enough space. When does it end?

[saptastic]

Happy new year all.


UK house prices end the year at a record high, with annual price growth in double digits

Key points:

• Annual house price growth increased to 10.4%, from 10.0% in November
• 2021 was the strongest calendar year for house price growth since 2006
• Price of a typical UK home hit record high of £254,822, up nearly £24,000 over the year
• Wales was the strongest performing region in 2021, London the weakest


Interestingly, London remains the weakest performer and certainly in my experience, I am continuing to arrange a lot of mortgages for clients who are leaving the city in the search of the perfect work from home property.

January in my industry is always a good indication of how the year will pan out as it is a month which is dictated by the new years resolution to move house. This is particularly relevant for first time buyers who have had enough of paying rent.

Full report here:

Download the latest report

Wow the bubble just keeps going.

[mattster]

It's a matter of perspective - to those who don't own property it's inflation, but for those who do it's wealth growth

HTH

Wealth preservation might be more accurate with current inflation elsewhere. Beats money in the bank, but if you are not already in the biggest house you are ever going to need then it makes everything harder.

[AtW]

When you were told to "sink your money into bricks & mortar" they meant invest in properties, not drive into them.

I did not read the small print

[WTFH]

FTFY

When you were told to "sink your money into bricks & mortar" they meant invest in properties, not drive into them.

[Roll Out The Farrell]

I managed to sell my buy-to-let in September (well, it was actually a let-to-buy as I couldn't sell when I needed to buy) and I'm hoping 2021 saw the peak of the market so that I'm in a good position when I come to consolidate and sell my current home with a view to buying something bigger with the proceeds from the sale and the lump sum from my BTL sale.

I suspect it wasn't the peak but I'm pretty sure growth is going to slow considerably.