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Then I guess your salary is amazing, because many house prices across London have doubled in 5 years. If you somehow bought a house at a reasonable earnings m

by nly 5y ago

Then I guess your salary is amazing, because many house prices across London have doubled in 5 years. If you somehow bought a house at a reasonable earnings multiple, say 4x earnings, then your house has appreciated essentially what you earned over the last 5 years. This is just math.

lmt55 5y ago
Can you tell me an area where average house prices have doubled in the last 5 years? I can't think of one. Most expensive areas have gone sideways since Brexit, and risen a bit since the pandemic. Most cheap areas have grown slowly since Brexit. https://www.bloomberg.com/graphics/property-prices/london/ https://www.bloomberg.com/graphics/property-prices/london/ shows the median as having gone up around 6% in total since 2017. Trying a mix of neighbourhoods in that tool, I can't see any which are close to 100% up.
- thiago_fm 5y ago
  Berlin prices has been growing at crazy speeds, it might have doubled the last 5 years. Even with a lot government intervention(rent raises cap etc). The situation is so bad that there isn't even housing stock available. You are generally better off moving out or buying whatever you can.
  - deleted 5y ago
    [deleted]
- nly 5y ago
  Me and my partner are looking for a house in zone 3-4 right now, and I can tell you that every single home we've looked at is on for an asking price (and they're selling) of between 50-100% more than they last sold for 5 years ago. We looked at a home that sold for £415K in 2017 for example and we were outbid. It went for 865K Flats aren't so hot, that's for sure, but there's been masses of price growth over the last 5 years on houses. There's a stunning lack of stock on the market.
blitzar 5y ago
London Prime Property: Our forecast for growth of 24% in the five years to 2026 means that by the end of the period, values will return to their previous 2014 peak level for the first time. [0] [0] https://www.savills.co.uk/research_articles/229130/323909-0 https://www.savills.co.uk/research_articles/229130/323909-0 12 Years underwater... optimistically given that its already not looking great for their 8% prediction for 2022

by nly 5y ago

lmt55 5y ago

Can you tell me an area where average house prices have doubled in the last 5 years? I can't think of one. Most expensive areas have gone sideways since Brexit, and risen a bit since the pandemic. Most cheap areas have grown slowly since Brexit. https://www.bloomberg.com/graphics/property-prices/london/ https://www.bloomberg.com/graphics/property-prices/london/ shows the median as having gone up around 6% in total since 2017. Trying a mix of neighbourhoods in that tool, I can't see any which are close to 100% up.

thiago_fm 5y ago
Berlin prices has been growing at crazy speeds, it might have doubled the last 5 years. Even with a lot government intervention(rent raises cap etc). The situation is so bad that there isn't even housing stock available. You are generally better off moving out or buying whatever you can.
- deleted 5y ago
  [deleted]
nly 5y ago
Me and my partner are looking for a house in zone 3-4 right now, and I can tell you that every single home we've looked at is on for an asking price (and they're selling) of between 50-100% more than they last sold for 5 years ago. We looked at a home that sold for £415K in 2017 for example and we were outbid. It went for 865K Flats aren't so hot, that's for sure, but there's been masses of price growth over the last 5 years on houses. There's a stunning lack of stock on the market.

blitzar 5y ago

London Prime Property: Our forecast for growth of 24% in the five years to 2026 means that by the end of the period, values will return to their previous 2014 peak level for the first time. [0] [0] https://www.savills.co.uk/research_articles/229130/323909-0 https://www.savills.co.uk/research_articles/229130/323909-0 12 Years underwater... optimistically given that its already not looking great for their 8% prediction for 2022