If price rises are evidence of success, it must be relative to national trends. Figures from the Halifax show UK house prices rose 86 per cent in that period, so a rise of 70 per cent means that pathfinders should be considered a clear failure according to the CLG’s methodology.
Tim Leunig, Inside Housing columnist and an academic in the department of economic history at the London School of Economics
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john souray | 13/11/2009 7:56 am
If these percentage price increases are signs of success, then over the life of a 25 year mortgage, a £200,000 property purchased now would in a "successful" economy be worth about £2.8 million pounds (70%) or about £4.5 million pounds (86%).
Whoopee! Everyone (well, everyone that counts - obviously not social tenants) will be a millionaire! Several times over.
You are all completely deranged. Perhaps I can interest you in buying some tulip bulbs. I understand they're a sound investment.
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