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From: Denc 🗡
That property investment was a bit of a mistake….. Inflation wipes out 24 years of house price growth Some first-time buyers cannot sell their homes that are worth less than they paid The average value of a British home is now less than it was 24 years ago as inflation eats away at nationwide property wealth. New data show that the average property has shed nearly £63,000 in value over the past five years after adjusting for inflation. Real-terms property prices fell to £276,157 between July and September, according to Nationwide Building Society, down 2pc compared to the previous three months and 19pc lower than the most recent market peak in 2021. In today’s prices, this was the lowest value recorded since the end of 2002 and was down by nearly £98,000 compared to the record level set in 2007, just before the financial crisis. While the figures show that homes are still worth more than they were 24 years ago in cash terms, rising inflation means the value of that cash does not stretch as far. It comes after inflated mortgage rates, which have more than doubled in the last five years, have hit buyer demand just as the Government’s buy-to-let crackdown pushes landlords to sell up.

Current Thread	Author	Time
That property investment was a bit of a mistake….....[more]	Denc 🗡	19:02:13

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