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Is there a property snake?
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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.
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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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