Originally posted by NoddY
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Reply to: House Prices
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Previously on "House Prices"
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Originally posted by Shimano105Mortgages? FFS we're contractors aren't we? What do you want to saddle yourself with a mortgage for? They are for permies, surely....
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Originally posted by eternalnomadLets take a look at Japan from 1980 to 2005. After 25 years commencing in 1980 house prices in Japan finish exactly where they started.
I can't be bothered to find the data to be sure but in YEN terms housing in japan was worth about the same in 2005 as it was in 1980. But during this period Japan [probably] suffered overall deflation. Thus there was probably still a positive uplift in that the purchasing power of said money had increased due to deflation.
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Originally posted by AlfredJPruffockIrrespective of the above, grey slates will remain grey slates.
Or a seagull poohs on them, then they go white.
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Property Prices for Dummies
One reads endless debates on this site about property prices.
So I propose to end the debate for once and for all.
Property Prices will either
Rise
Fall
Or remain the same.
Irrespective of the above, grey slates will remain grey slates.
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Originally posted by DimPrawnHouses falling in value. Never!
If Japan had opened the immigration floodgates to all and sundry, their property would become a scarcer resource as well.
Of course, that pre-supposes that as many people would want to move there as seem to want to come here.
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The number of home sales in England and Wales has jumped by 37% over the past year, the Land Registry has said, as the housing market pick-up continues.
Prices in England and Wales rose 5.05% in the year to 31 March, the registry said, to an average of £192,745.
Wealthy City financiers and foreign buyers pushed London prices 6% higher to more than £300,000 on average.
Houses falling in value. Never!
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Originally posted by DimPrawnLast time I looked out of the window, I was living in Swindon, not Tokyo.
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An interesting post ASB (thanks for that), however Shaunbhoys claim is not safe.
Lets take a look at Japan from 1980 to 2005. After 25 years commencing in 1980 house prices in Japan finish exactly where they started.
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Originally posted by ASBI think you're pretty safe..
Lets take a look at Japan from 1980 to 2005. After 25 years commencing in 1980 house prices in Japan finish exactly where they started.
*Yes, I know the graph only goes to 2004 so if you want the data for 2005 take a look at the addtional data below (which shows things didnt get "any better" for Japanese property in 2005)
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Originally posted by shaunbhoyWell show me a 25-year period when they have fallen then smarta*se! Or else stop waffling like Margaret Beckett!!
'74-'96 is only 22 years. In this period the index rose from 20.4 to 110.1 but this was largely due to inflation (an average of about 7.5%). By comparison the price index (http://www.parliament.uk/commons/lib...9/rp99-020.pdf) changed from 100 to 555.2 (which is 20.4 to 113.26). This was a fall in real terms.
Between '74-'99 the nationwide index for northen property changes from 17.4 to 111.9. (7.7% per year). By comparsion the price index (to 98) changes from 17.4 to 103.06.
Over the last 30 years prices have "only" doubled in real terms (although most of that is in the last 10 years).
There is no easily available average data predating '73. Since inflation is a modern phenomeno (total inflation between 1750 and 1938 was only around 300% - 0.6% PA) this is probably the place to look. There were very substantial price falls in the latter half of the 19th century, given the low level of inflation there is a reasonable chance of 25 years with a fall in real terms. Unfortunately it is difficult to find any reference data.
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Originally posted by shaunbhoyAnother stick you have hold of the wrong end of. And it would take more than a lightweight like you to offend me sonny!
Next!!
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Originally posted by eternalnomadI take it that you are not factually certain they always go up then !
Originally posted by eternalnomadI seemed to have offended you in some way.....so as you insist on slinging personal insults around I can only conclude it must be the "wrong time of the month" for you
Next!!
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