House prices are a wonderful conversation that dinner party guests, friends and property investors alike all talk about when they increase or decrease more than usual.
'Usual' depends on what is expected or anticipated. Given that prices have tended to double every 7 years, on average, then anything that excites the market has to be a topic of conversation. Here's the
latest HOUSING MARKET NEWS and OUTLOOK.
and also a
House Price Tracker
which will show the range of reporting variation.
Conversation ranges from the 'we've done well' types to the despair of first time buyers in a rising market and vice versa in a falling market. One thing is for sure is that prices, as in any market, will fluctuate and pain will be experienced by those who have overstretched themselves. Still, everyone has to start somewhere.
Factors that affect these prices are
demand for housing,
the availability of credit,
the property cycle,
seasonality,the economic outlook and
the rise of buy to let investors.
The psychological effect of booming prices for a feel good factor is a good signal for the government to call an election.
The internet now has a plethora of these price sites all purporting to give you the latest details of property sales in your area - this all essentially comes from the Land Registry anyway. Some provide useful information and are fact based whilst others generally have incomplete information which is designed by various scurrilous email marking companies to get you to sign up for your detail data. You have been warned.!
My favourite is
which tells you about what's going on in your neighbourhood.
Best sites include, the Halifax house price data, Land Registry and Bank of
England newsletters which are all free.
So whether you feel rich because you have a huge mortgage that you can afford to pay for and you're in a rising market, or decide to sell up and buy a plot of land and build your own house or whether you've just bought a knock down bargain at an auction in a market in the doldrums, there's always something to talk about.
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