Sunday, July 06, 2008

Zoopla - How much is your house currently worth?

Yet another site for the British obsession with house prices. When I first looked, our house was apparently worth £371,039, now it's worth £375,350, who says house prices are falling? (well me for one...). I'm not sure how valuing it to the nearest pound is possible but hey who am I to argue. Perhaps this is the answer for people having trouble selling their homes, put them on the market for a very exact price, thus showing buyers that you're not messing about and know the value of your house precisely. Well, perhaps.

Any talk of the massive inflation in house prices always makes me think of the quote "House prices are a matter of opinion but debt is real". Even though the value of our house has apparently increased way beyond inflation in the 8 years we have been living here, the debt hasn't reduced dramatically. And due to the way mortgages work, we still have to pay the same amount every month. In fact, come November, we'll probably have to pay a whole lot more. So, why is house price inflation good exactly?

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