House prices set to increase by 50% in 10 years

Well according to Zoopla my house has gone up by £39,100 for the year. Its only good if your selling I guess but I have seen a huge increase in property prices around where I live and have seen a few hovering around the £0.5million mark. My next door neighbour knocked one evening a few months back and asked if I'd consider selling to him, seemed a bit of a strange request to me.... Anyway I told him that when he manages to find the other £100k on top of his offer I may consider it haven't heard from him since

Now that the US federal reserve has raised interest rates by 0.25%, the UK will no doubt follow suit in the next few months so we'll either see some frenzied buying now or people will be frozen out of the market even more... Not sure whether the current housing market is good or bad either for owners or those wanting to own their own home or for those renting as either wages need to rise extraordinarily to pay for it or the house market crashes... One or the other needs to happen.......

That does make poor reading .. My daughter and boyfriend still live with us as they can't afford to move out ,hell they can't even afford rent , so it probably means they will be living with us till we die ........... great

I guess it's time to realise I will never own a house again then  It makes me sad really, but we have personal complications (husband on ex's mortgage still etc.) so it is a waiting game until the kids grow up. By the time that happens we'll be too far behind to buy anything. That's the reality as he will only get set amount from his old house. Oh well, there's more to life that a house, but renting isn't quite the same! You can never truly relax as the landlord might decide to sell or stop renting anytime they fancy it. BOO!

I did hear either on the radio or television the other day that it is the Governments (and it wont make no difference which one) that it's their hope that the majority of the UK homeowners, by doing so this will take care of us in our twilight years should we need looking after by the state. On the flip side those that are renting will still need their rent to be paid, the state pension wont be enough to cover it and I doubt very much a private one will either. 

Originally Posted by Rebecca (PayforPrecision)

“I guess it's time to realise I will never own a house again then  It makes me sad."

I've got a mate just a bit older than me that bought a gaff recently using the shared equity scheme, where he owns half, and rents half. Can mean best of both worlds, feels like it's his, makes the mortgage accessible and has the option in the future to buy out the remainder so he will 100% own it. 

Seems a good way to get onto the property ladder if raising a mortgage is a problem, at least you will benefit from any value increases.

I know someone else who did a similar thing a few years ago, but unfortunately her scheme only allows her to buy a set maximum amount of the equity, but never fully own it 100%. Know little about these schemes, but concept seems good, but I guess it check the small print and make sure you have the option to buy it completely. My mate bought his through www.orbit.org.uk and seems happy enough with the process.

Dunno if a viable option or worth investigating. By the time my kids have left school, then completed their 12 years military service, me and the missus will be brown bread or dribbling in a nursing home, so they can come home 

I think generally the above is a good idea, the only issues I see with it is that I cannot see whoever owns the other percentage ever contributing towards any maintenance costs and when it comes to selling the market is limited to those only who like the shared ownership scheme...

We used the government scheme as well where they paid a percentage as well ,but we have to pay it back in 5 years .. But yes orbit is a great scheme as it is available on our estate too ...

We were just lucky enough to buy at the right time in around 2000 when house prices were at there lowest ,when we sold we got over double back so was a great bargain buy ... Looked at  Zoopla and in a year and a half ours has gone up by 43000 as we bought off plan

I used to own shared ownership with my ex, it was a great scheme but only for first time owners, unsure what the rules are these days!