This would have been 250k unextended back in 2012. Yeh it's had a lot of money thrown at it, but we have had a cost of living crisis, mortgage rates are through the roof, and the asking prices still keep going up.
Makes no sense to me. Perhaps it never will. I sold a similar house for 702k in 2021 and thought I did well to get out then!
Supply stays static but demand goes up because the population keeps going up and money is still relatively cheap to borrow? If one of those things changed, and the later is slowly changing anyway, maybe we'll see something different happen.
https://www.rightmove.co.uk/properties/135426977#/?channel=RES_BUY
The housing market is completely fucked.
This would have been 250k unextended back in 2012. Yeh it's had a lot of money thrown at it, but we have had a cost of living crisis, mortgage rates are through the roof, and the asking prices still keep going up.
Makes no sense to me. Perhaps it never will. I sold a similar house for 702k in 2021 and thought I did well to get out then!