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From: Denc 🗡
Things you didn’t know number 45786321468…. Houses in England are cheaper than they were 20 years ago Houses in England worth less than they were 20 years ago Analysis signals that UK property can no longer be classed as an investment The average home in England is now worth less in real terms than it was 20 years ago as inflation and interest rates hammer the property market. A typical home in England sold for £293,262 in June, a sum that was lower than the average sale price of £296,179 in July 2006 after adjusting for inflation, according to Hamptons. House prices have fallen by £47,522 in real terms compared with the most recent market peak in June 2021, according to the estate agent’s analysis of official figures. While homes are still worth more than they were 20 years ago in cash terms, inflation means the value of that cash does not stretch as far. Experts said the figures signalled that UK property could no longer be classed as an investment. Felix Schmidt, a senior economist at Berenberg, a bank, said: “The times when investing into houses was a no-brainer are over.” High mortgage rates and sluggish real income growth have made it harder for people to buy homes, reducing competition and making it more difficult for sellers to demand higher prices. Years of high inflation in the wake of the pandemic and both the Ukraine and Iran wars have meanwhile eroded nominal house price values.

Current Thread	Author	Time
Things you didn’t know number 45786321468…....[more]	Denc 🗡	15:36:16
>> 'Years of high inflation'.... and yet the mandate of the MPC is 'to control ... [more]	Free Thinking Doggie	15:43:22

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