Average house prices in the UK to pass $600k
 

http://news.bbc.co.uk/1/hi/business/6932304.stm

They are already nearly $1m for London and $800k for the south east.

This is predicted for 5 years time. I brought my house 18 months ago and it has already gained $200k in value.

It would mean that if you owned a house outright you could probably move to Arizona and retire.

Just last week they was predicting doom and gloom.

Although must say, good report because I'm looking to buy a house this week.

Buy it today bro, by dinner time you will have made a few k!

A friend in the UK is buying and revamping houses on a smallish scale and binning almost a mill/year ($2mill) - can see why at that level.

Just sold a UK house last year and amazed at the sale price - almost 500K ($1mill) - maybe it was worth keeping it? *lol*

I heard that, near London, you can make a bundle just digging a basement and renting it.

Reasonalbly priced houses round where I live £250k to £400k sell instantly. You could probably just walk out your front door and shout "I am selling this house" and it would be gone in seconds.

I would have kept the house if I was you!

I rented my parking space in the road out for £30 once per day when I lived in Chelsea and £500 on New Years Eve when I lived opposite the Millenium Dome.

If you get a basement convertion you could easily rent it out for $3k per month.

Shit - amazing! Know a few people selling now and going to move out of the UK and "offshore". What they get from a house sale will buy a mansion here! *lol* A nice 4 bed with pool blah only costs about $350-400 ish and annual house taxes (council tax in the UK) is only $100/year.

Na... was prob a good thing to sell that property - I dumped in into an existing real estate investment which has been increasing in capital appreciation of.... averaging 50%/year, which is going to be around 38% better than UK property? (Assuming that is around 12% ish).

Real estate here is total lala land - the govt estimates annual increases of 40-60% and so far that seems about right - and fat chance of it changing for at least 5 years ahead :thumbsup

Seems like the prices has flatten out here in norway, but last year was crazy!!

Kinda Ray... Know of a one bedroom cupboard in London that sold for over a mill (dollars) - just because it was near central London. Nobody would actually want to be in the place - it was just convenient to sleep in and work in central London - then move out to a real home at the weekend.

Does anyone remember when that guy sold his garage that was kind of done up as a bed sit? he got £220k for that in Kensington.

The day I pay for my UK house in dollars will be a very sad day indeed.

Jesus Christ, what's the minimum wage in the UK? (to keep things in perspective)

Hah $800k get's you a fucking mansion here in Sweden

Minimum wage by law is £5.52 ($11) an hour, But no one works for minimum wage.


four years ago I bought a house for £150k ($300k) an sold it two years later for £300k ($600k) I put the house on the market and sold it by the end of the first day.

It depends where you live, I live down south and house prices are mental

Between them my mum and step dad have about 2.5 mil $ worth of property - but unless they move overseas its more or less just enough for their pension.

I am always amazed at how cheap it is to live in the U.S.

lol I live on the south coast and bungalows are at least £250,000

it would be incorrect to list the gains in US$ currency.. due the currency market, the dollar has weakened against the UK pound sterling over the past 7 years.
example: pst200k house was equal to apprx us$310k 7 years ago, the same uk value of pst200k would today be equal to us$410 albeit the value did not increase in local currency.

conclusion: europeans should look at investing in real estate in USA.

why is it so fucking much over there?

I bought my house 20 months ago now and I have significant equity in it already. We're doing extra things to push it up and up. Keeping a hold of it for two more years then its being put up for sale.

No matter how much I make on it I'll need to pay extra for whatever new house I buy. Its swings and roundabouts but at least I'm on the property ladder. I feel so sorry for first time buyers right now. Its almost impossible for a young person to buy a house themselves these days.

What a stupid comment to make. If I buy a house in the US for 300K USD its worth £150K. Now as the dollar isn't getting any better, in about a year it will be worth still $300K as the US housing market isn't going up right now from what I hear, but the dollar is shit so the house will be worth the equivelant of £135K as it'll get worse and worse.

I know someone who bought a house in Florida 3 years ago for $300K, back then that was around the £190K mark. Now its still worth around $310 and thats only £165. She's made a loss on her house there. If she wasn't renting it out then it would have been a total waiste of time.

Minimum wage is $11 in the UK---I need to send some of my Employee's to work there :D

Damn, that's amazing...

And I were upset with the prices down here in Sao Paulo!!

Same here, bought my house almost a year ago and they are going for 30k (euros) extra already lol Peanuts for some I know but I like it. But then again like you said when I go look for something else I probably need to pay extra on it.

Prices are skyrocketing in Sweden also.

I can't see the day where I will be able to buy in London.

Hey its 30K euros in your pocket! The latest houses selling in my street puts my equity at around 65K euros. Thats pretty damn good. I bought my house from my mum tho and she gave me it at a knock down price already. I think she's a bit pissed at how cheap she gave me it now tho LOL

Some people will be moving then.

quite same here. Even more for apartments in cities.

if you think it keeps going down, sure you could loose depending where in the US you buy.. but the pound is not going to go any higher against the dollar..right now is peaking so you get lots of US house for your pst.. and besides we need you to invest in our falling real estate market..

the market will slow down again, here in denmark the last couple of years have been crazy, prices was going up and up all the time, but now its slowly starting to go down again... i think it will be the same in the UK soon, prices cant go up all the time

I'm wondering how a house that worths 700k looks .

In the UK? Varies a bit depending on what part of the country, but generally a *very* average 3 bed home, but OK. In central London, doubt there are homes left at that price - friend sold a one bed flat ("apartment") which was sold for... dollar value $980K last year, so it's kinda location-sensitive.

Ironically that same $700K would buy a very substantial home where I am now - 5-6 beds, guesthouse, pool and other facilities blah with views and on probably a few acres of grounds - plus a much superior lifestyle. Again - all relative.

Fucking right.

I'm a pauper over there right now. Property is out of the question.

When I get off the plane and the customs agent asks me have you purchased anything during your UK stay I tell him, "I'm American, I can't afford anything with this exchange rate!" they usually laugh and wave me through.