House price rises
As your blogger sits mulling over the lunchtime news on a wet Monday, the most alarming of the day’s headlines has to be about the continuing rise in house prices, making it even more difficult for our poor youngsters – even the 30 somethings – to get on the housing ladder. I know how the big housebuilders are completing more homes than they have for years because Plastic Surgeon’s Finishers have been flat out, completing cosmetic repairs on sites around the country, but the increase in supply has done nothing to dampen demand.
For the first time ever, the average price of a house in the UK rises and steps over the £200,000 mark for Taylor Wimpey, which said today (7th July) that sales volumes were at the upper end of expectations, with its average selling prices rising 10 per cent to £206,000.
June’s monthly rise put average UK house prices £2,391 above their previous high water mark, set in May, when property prices climbed back above the previous pre-recession record of £186,044, achieved in October 2007.
Meanwhile in the papers over the weekend, a feature ran on London’s latest property millionaires from areas like Chelsea – one lady purchased her two-bed Victorian terrace for around £185,000 in 2005 – she has just sold it for £1.4 million. Nationwide reported that the average value of a UK property was £188,903, but in London it had surpassed £400,000 for the first time.
Personally, if I was a youngster struggling to buy a home, I think I would pool my resources with a group of friends and buy up the little Italian village that is up for sale on eBay at £195,000.
Calsazio is nestled in the dramatic hills of northern Italy, near the Gran Paradiso National Park – but many of its 14 houses are abandoned and in urgent need of repair.
Now the village’s remaining residents are banding together to sell their entire community in the hope it will be turned into a tourist spot.
What an opportunity! I would probably need to hire the entire Plastic Surgeon workforce of 100+ Finishers to come and help do up the buildings, but save myself a fortune by doing so – being that to repair is more cost-effective than replacing damaged substrates and surfaces …. Anyway, one can dream … perhaps it could be an artist’s retreat (your blogger likes to paint and draw occasionally) …
Back in good old Blighty, research by Shelter and KPMG has shown that, if current trends continue, half of all adults under the age of 35 will be stuck living in their parents’ home within a generation. Shelter also went on to say that a staggering 80% of homes on the market in England are unaffordable for the average working family looking to buy their first home.
Unfortunately, the problem of housing affordability is rooted in our failure for more than three decades to build enough residential properties to keep up with demand, while population has risen sharply. The one bit of good news though is that Plastic Surgeon is still offering opportunities for Britain’s million or so NEETs (Not in Employment, Education or Training) with regular intakes of trainee Finishers being given a new set of skills at our Westcountry headquarters.
Nationwide reported that the average value of a UK property was £188,903, but in London it had surpassed £400,000 for the first time.
Tags: house price rises
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