Don't forget, increasing house prices increases the wealth gap and leads to suffering. The faster they rise, the more the community and cohesive societies are pulled apart.
House prices have rarely remained static for long. How many 150 year old houses have you seen, priced at the same as when they were built? It's supply and demand. More demand means prices rise faster. The value of my own place has seemingly risen by almost £100k since I moved in during 2014. Not that it matters, I'm not selling.... You didn't mention what your solution might be?
I think this panel is bias. I like you Phil but you need to interview people who aren't just sellers or who benefit from selling. I wanna see people who are investors and buyers. I wanna hear why they aint buying. Lets see a more balanced pannel and even some heated debates. Why not inject some of these ideas for future videos.
Interesting about the 10 year restriction in Jersey, but got me thinking, how can you build up your 10 years if you can't rent or buy until you have lived there for 10 years?
In sheffield it's been crazy e.g 17 offers on houses after week and best and final/sealed bids on pretty much everything I've looked at. I've had to refresh right move constantly and call within an hour just to get a viewing.
This is very much like 1989. Properties dropped by around 50% from the peak and took 10 years to recover. If you you look at a lot of charts on the internet they don't show that drop. At the time I remember hearing an estate agent say "there's never been a better time to buy". First time buyers will be in a bad place when interest rates rise in the coming years and house prices crash. Don't forget there is nothing to hold house prices up, but when you're in the middle of raising prices it's difficult to imagine them going down. As to when prices crash? Who knows!
Interesting show for an Aussie. Great comment that we prefer even growth over the fomo excitement and related over pricing. Sterilizing more farmland is unsustainable
Thanks for a great property review Phil. So insightful. I also really enjoyed the interview with Lucian Cook of Savills who I have seen present in the past - what a wealth of knowledge he has. Please keep this balanced and informative property market information coming!!
A very interesting and informative panel. I do wonder how long the perpetuation of a property market increasing in value faster than inflation can continue. Now that the average house costs 8 times the average salary, it surely won't be long before the bottom falls out the market. I realise that the government cannot afford a base rate rise, but it has to come. The 300 year average is 6%. At 6%, a great many houses at their present value become unaffordable.
Great video again. I've been trying to buy a home at the lower end of the market in Norfolk. I've offered the full asking price each time and each time the estate agents come back to me and tell me I need to substantially up my offer even though it's full price. I am 65, single and cannot work through I'll health. I was going to live off the little profit I made to get me to my pension next year. Will this market change? I am living in an expensive over priced over 55s flat that you coukdnt swing a mouse in never mind a cat! I just cannot believe what's happened to the market. I just want a home I can relax in and not have to pay out exorbitant rent.
First time buyer in the midlands looking to purchase a 2bed terrace or semi and everything is gone before we can even look at it. 15k over asking price is standard at the moment. World has gone mad. How are people supposed to enter the market?
@@MoveiQ that's great, as first time buyers like me are trying to figure out what is going on. Starter homes up here average 3 bed ex local authority would sell for 100k but people are bidding up to 20 thousand above home report value which means first time buyers who don't have 30k are priced out of the market. Me and 2 other friends have all just about given up
@@siobhanaston9210 Thanks for sharing - we'll be sure to cover this off in the next property panel chat we do. You're not alone but don't give up - just sit tight for a bit. We share advice for FTB over on our website www.moveiQ.co.uk do check it out if you haven't already.
I've been looking at prices in the very North of Scotland for a while now, with an eye to possibly moving there - I've holidayed there many times. Prices up until recently have been very reasonable for what you got, but not anymore! Anything worth looking at has jumped up £50k plus..... I can't honestly say I'm surprised, as the prices did seem very reasonable before. It's another world though, as you may have a 150 to 200 mile round trip to get to a supermarket!
In process of buying a tiny 2 bedroom house in a region of Manchester, it was on for £85k, my offer of £88k was accepted, the banks valued it at £75k, and once the list of repairs found in the survey around damp are done then they will value it at 80k.. what can I say, 88k is a reasonable price for that house in the current market
We are looking to buy our first house and are finding it really difficult in the Midlands, what we had saved for a deposit of 10% is now not enough for the type of house in the location we want, prices seem to have risen by 30,000 on average :(
Just completed this week, transaction started in Jan when I accepted an offer, made an offer in Feb and has taken till now to finish. The market was difficult, despite having a healthy budget of 800k for SE London, lost out on one despite offering over so settled for the one I bought because there were little to no comparables in that price range. Even now, there are no large Victorians coming unless they are over 900k, I guess I was lucky securing one in Feb.
In certain areas in Birmingham houses appear on the market and sold relatively quickly. Thankfully for myself as a first time buyer, I've saved a substantial deposit and was ready to move when the right property appeared. I've opted for a house which is a nice family home, yet an investable area due to location. I think I've paid the right price for it but tomorrow if I was to move on, it's reassuring I could get a premium for rental for this property.
In Essex anything decent is sold in a matter of days, I am currently renting and placed an offer at the asking price of 400k recently on a property, there was 7 offers in all, even though I could offer no chain, still did not get it, Hopefully when we get nearer to the stamp duty returning to normal, things will become more realistic.
@@MoveiQTo clarify this is Chelmsford I am talking about, very popular, prices are sky high already, bordering in insanity in some cases yet they selling apparently.
Please don't include Ireland in your map as it is not in the UK. We are an independent country and still a member state of the European Union. Maybe a geography and history lesson wouldn't go amiss.
![เปิดบ้าน พี่ตูน Bodyslam หลังใหม่คนแรก ที่ภูเก็ต l [Nickynachat]](http://i.ytimg.com/vi/flFwcmyDQSk/mqdefault.jpg)
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Don't forget, increasing house prices increases the wealth gap and leads to suffering. The faster they rise, the more the community and cohesive societies are pulled apart.
House prices have rarely remained static for long. How many 150 year old houses have you seen, priced at the same as when they were built? It's supply and demand. More demand means prices rise faster. The value of my own place has seemingly risen by almost £100k since I moved in during 2014. Not that it matters, I'm not selling.... You didn't mention what your solution might be?
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I think this panel is bias. I like you Phil but you need to interview people who aren't just sellers or who benefit from selling. I wanna see people who are investors and buyers. I wanna hear why they aint buying. Lets see a more balanced pannel and even some heated debates. Why not inject some of these ideas for future videos.
Thanks for the feedback. Duly noted.
More of these please - love the regional focus
Thanks for the feedback - stay tuned, more to come
Thanks Move IQ team, this panel is most welcomed and insightful
Thanks for the feedback - glad you found it useful.
Thank you. Really informative and an easy listen 😊 More like this with multiple regions per episode, please, I like to hear the regional comparisons.
Thank you! Will do!
This building cost increase appears to be world-wide. Certain in the USA it is a big talking point. I think it's more related to covid than brexit.
Very useful and insightful. Thanks Phil and MoveIQ Team
You're very welcome
This is scary. A market that is being moved by the toilet role hysteria. This must surely end in tears
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Great video guys, good to hear the market is manic everywhere not just us here in Essex!
Really insightful video! Loving these housing market updates 😊
That's what we like to hear :)
Interesting about the 10 year restriction in Jersey, but got me thinking, how can you build up your 10 years if you can't rent or buy until you have lived there for 10 years?
Become a doctor or nurse essential worker. Or marry a Jersey resident, and stay married for 10 years, who rents/buys on behalf of both of you.
What a great video! Many thanks to all, very insightful
Glad it was helpful!
In sheffield it's been crazy e.g 17 offers on houses after week and best and final/sealed bids on pretty much everything I've looked at. I've had to refresh right move constantly and call within an hour just to get a viewing.
Thanks for sharing.
Same thing here. The market is crazy I've had enough and taking a break. Houses being sold before I can even see them.
Very helpful, I'd love more on buying a flat. Is it a good time to get a bargain as is taking longer to sell flats? Thanks
Excellent programmer highly informative .. please do more going forward …
Thanks, will do!
The echo makes this hard to watch. Encouraging 'mute button discipline' among guests would really help.
Duly noted - thanks
Just sold and purchased and none of the estate agents in the chain were ‘present’ we could have all saved ours a tonne of 💰
Thanks for sharing.
Based on Phil's comment about banks knocking the price back down afterwards, really shows who controls UK house prices.
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Excellent video excellent content ! However I've got a question. When is this going to slow down?
Good question!
This is very much like 1989. Properties dropped by around 50% from the peak and took 10 years to recover. If you you look at a lot of charts on the internet they don't show that drop.
At the time I remember hearing an estate agent say "there's never been a better time to buy".
First time buyers will be in a bad place when interest rates rise in the coming years and house prices crash. Don't forget there is nothing to hold house prices up, but when you're in the middle of raising prices it's difficult to imagine them going down.
As to when prices crash? Who knows!
Interesting show for an Aussie. Great comment that we prefer even growth over the fomo excitement and related over pricing. Sterilizing more farmland is unsustainable
Been in Australia since 2017. Madness here with prices - see what happens in UK from September onwards… I’m off to France
Thanks for a great property review Phil. So insightful. I also really enjoyed the interview with Lucian Cook of Savills who I have seen present in the past - what a wealth of knowledge he has. Please keep this balanced and informative property market information coming!!
Glad you enjoyed it! We will indeed.
A very interesting and informative panel.
I do wonder how long the perpetuation of a property market increasing in value faster than inflation can continue. Now that the average house costs 8 times the average salary, it surely won't be long before the bottom falls out the market.
I realise that the government cannot afford a base rate rise, but it has to come. The 300 year average is 6%. At 6%, a great many houses at their present value become unaffordable.
Thank you for your feedback.
Great video again.
I've been trying to buy a home at the lower end of the market in Norfolk. I've offered the full asking price each time and each time the estate agents come back to me and tell me I need to substantially up my offer even though it's full price. I am 65, single and cannot work through I'll health. I was going to live off the little profit I made to get me to my pension next year. Will this market change? I am living in an expensive over priced over 55s flat that you coukdnt swing a mouse in never mind a cat!
I just cannot believe what's happened to the market. I just want a home I can relax in and not have to pay out exorbitant rent.
Look at cheaper areas, seems like you’re out priced in that area. Always look for freehold too.
@@darkangel686868 thank you it looks like I will have to. All the best
First time buyer in the midlands looking to purchase a 2bed terrace or semi and everything is gone before we can even look at it. 15k over asking price is standard at the moment. World has gone mad. How are people supposed to enter the market?
Hopefully things will start to level out over the next few months. We'll be doing more updates like this to see whats going on around the country.
Would have liked to hear from a scottish agent the lowest end of the market is ridiculous here
We will be doing more of these and will cover Scotland and Wales also.
@@MoveiQ that's great, as first time buyers like me are trying to figure out what is going on.
Starter homes up here average 3 bed ex local authority would sell for 100k but people are bidding up to 20 thousand above home report value which means first time buyers who don't have 30k are priced out of the market. Me and 2 other friends have all just about given up
@@siobhanaston9210 Thanks for sharing - we'll be sure to cover this off in the next property panel chat we do. You're not alone but don't give up - just sit tight for a bit. We share advice for FTB over on our website www.moveiQ.co.uk do check it out if you haven't already.
@@MoveiQ thanks I will 😊
I've been looking at prices in the very North of Scotland for a while now, with an eye to possibly moving there - I've holidayed there many times. Prices up until recently have been very reasonable for what you got, but not anymore! Anything worth looking at has jumped up £50k plus..... I can't honestly say I'm surprised, as the prices did seem very reasonable before. It's another world though, as you may have a 150 to 200 mile round trip to get to a supermarket!
In process of buying a tiny 2 bedroom house in a region of Manchester, it was on for £85k, my offer of £88k was accepted, the banks valued it at £75k, and once the list of repairs found in the survey around damp are done then they will value it at 80k.. what can I say, 88k is a reasonable price for that house in the current market
We are looking to buy our first house and are finding it really difficult in the Midlands, what we had saved for a deposit of 10% is now not enough for the type of house in the location we want, prices seem to have risen by 30,000 on average :(
Where is the west country me lover? Ooh arr!
😊 There will be more property panel chats - we'll work our way around the UK we promise.
Just completed this week, transaction started in Jan when I accepted an offer, made an offer in Feb and has taken till now to finish. The market was difficult, despite having a healthy budget of 800k for SE London, lost out on one despite offering over so settled for the one I bought because there were little to no comparables in that price range. Even now, there are no large Victorians coming unless they are over 900k, I guess I was lucky securing one in Feb.
Congratulations! Thanks for sharing your story / experience.
The message is Don't buy a one bedroom because you'll have difficulty selling it again
In certain areas in Birmingham houses appear on the market and sold relatively quickly. Thankfully for myself as a first time buyer, I've saved a substantial deposit and was ready to move when the right property appeared. I've opted for a house which is a nice family home, yet an investable area due to location. I think I've paid the right price for it but tomorrow if I was to move on, it's reassuring I could get a premium for rental for this property.
Thanks for sharing! And congratualtions!
Phil,why do you not have any person representing Scotland?
We will be doing more of these chats and will definitely cover Scotland and Wales too 👍
Thanks
In Essex anything decent is sold in a matter of days, I am currently renting and placed an offer at the asking price of 400k recently on a property, there was 7 offers in all, even though I could offer no chain, still did not get it, Hopefully when we get nearer to the stamp duty returning to normal, things will become more realistic.
Thanks for sharing. Good luck with your move.
@@MoveiQTo clarify this is Chelmsford I am talking about, very popular, prices are sky high already, bordering in insanity in some cases yet they selling apparently.
The market is mad. A 2 bed bungalow in Lincolnshire valued £280000 was offered £30000 over valuation. It's mad. This can't be sustainable can it?
We discuss this in our latest video th-cam.com/video/bvu30yRDry8/w-d-xo.html
Please don't include Ireland in your map as it is not in the UK. We are an independent country and still a member state of the European Union. Maybe a geography and history lesson wouldn't go amiss.
Hi, the pins in the map indicate the locations we cover - we used a stock image for the map. Thank you for your feedback.
@@MoveiQ well it's time you got a new stock image. Ireland has been an Independent country since 1922.