We're Boomed!

[Lucifer Box]

House prices rising say surveyors

The housing market has shrugged off the Bank of England's increases in interest rates, says the Royal Institution of Chartered Surveyors (RICS). Its latest survey of members who work as estate agents shows that UK house prices rose in March, for the 17th month in a row. The RICS says this shows the housing market is still in "rude health".

According to the Halifax bank the annual rate of house price inflation rose to 11% in March, and the number of new mortgages being approved for house purchase has remained stable in recent months. The RICS report confirms the view of other analysts that the areas seeing the largest increases in house prices are Northern Ireland and London.

Anyone not on that housing ladder had better get on while prices are still cheap.

[gingerjedi]

We've been waiting for a crash for 3 years yet there are still no signs

I have a mate who has a high powered finance job in the City and he's just sold up and moved into rented, I'm not saying he knows something we don't but he is very savvy with his money.

[andy]

I have beginning to doubt if a crash will ever come.

[gingerjedi]

It will be more of a soft landing where prices start to level off... hang about thats what people were saying 3 years ago

[wendigo100]

We've been waiting for a crash for 3 years yet there are still no signs

milan gave one reason earlier today - as prices go up, lenders are loosening their purse strings a bit more, so house prices go up more, etc. Lenders have never been this generous in history! It all hinges on how much longer the debt bubble can keep growing.

The second reason is the net immigration every year, which ensures that demand continues to outstrip supply.

[ratewhore]

I have beginning to doubt if a crash will ever come.

it's either 'am beginning' or 'have begun'...

[Numptycorner]

The second reason is the net immigration every year, which ensures that demand continues to outstrip supply.

I don't buy this, rents are not growing at all in real terms, which you would expect if there is such demand and limited supply. The only driver is expectation of further price rises and availability of credit, it's a pyramid scheme that at some point will feck up.

[sasguru]

In 10 years a 2-bed semi in Peckham will be £1 million quid.

HTH.

[Lucifer Box]

Aye SG. Millionaires can't afford the detached houses in my road now.

[Numptycorner]

In 10 years a 2-bed semi in Peckham will be £1 million quid.

HTH.

More likely in 10 years time a 2-bed semi in Peckham will be worth 250k with a 500k mortgage on it repayable over several generations.