Quote:
Originally Posted by Ignitionnet
Are you saying house prices are low relative to how they were 25 years ago?
This is a long term trend, and house prices aren't 'low' they are ridiculously high by any sensible measure.
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That may be the case in London but elsewhere they are starting to fall
Quote:
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But headline statistics do not tell the full story, the Land Registry's latest figures paint a stark picture of a nation divided. London house prices are nudging their pre-financial crisis peak levels, and the capital is the only region to see property up over a 12-month period, with a 2.1 per cent rise. Across England and Wales as a whole prices are down 2.6 per cent - 12 per cent off the January 2008 peak.
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http://www.thisismoney.co.uk/money/m...#ixzz1bbiBw2nC
Also you have to remember that any profits from the sale of a house due to downsizing are worth much less than they where 20 yrs ago ,
this chap has a interesting take on the problem ,he argues that because of the devaluation of sterling house prices have actually fallen 70%.I'm not saying he's right or wrong in his assessment i'll leave that up to the experts but it is a different way of looking at it