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Property Snake

Property snake

 

Property Ladder

Property ladder

 
Is there a property snake?

Well yes and no. The Snake has been on this site since it was created - as a counterbalance to idea of The Ladder.  Undoubtedly prices have been slithering down the Snake for some time. But that is the way the UK market is, quite cyclical, and does go up and down (sometimes violently).   But all is not lost, common sense tells us that if banks have drastically reduced mortgage lending, obviously it will adversely affect prices. Perhaps prices were overvalued. But it is not house prices that increase in the UK - it is land prices. Bricks and mortar are unfortunately turning to dust as soon as they are laid.

 

 
 Why are many of Glasgows Multi story flats being demolished - because some only had a fifty year total life span. What about private new builds being built today? How many people ask - how long will this house last? What answer would they get? But that is not the most important point. 
As long as the demographics continue as before. That is to say, if in this country we need the same sort of dwellings that we have over the last twenty five years, then land prices (and therefore house prices) will start to increase again. When? That is one of those 'how long is a piece of string' questions.   So we have measured it for you and it turns out to 14 inches (35.6 CM). So there you have it.

 

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Graph showing house prices

This graph from Nationwide shows house prices versus other investments over the last twenty years. They were looking at investment property so have included capital gains tax as a cost for housing.
 
 

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