Why are we so driven by this frantic scrabble for property?

[Toby-1-kenob]

Trying to find out what's dirving the seemingly unstoppable trend for investing and doing up property. Brtina's prices are going up like mad, and overseas property is following the trend...but why do we do this?

Why are we so driven by bricks and mortar? What is everyone getting out of the DIY fad, the investment and the effort they are all putting in...

Any ideas?

[saxy_jag]

People are like sheep - they see others doing something (maybe on the telly), so they feel the right thing to do is follow suit, maybe because they're too thick to think for themselves.

What I find annoying about the TV programmes in particular is that people never buy these houses to do up and live in. It's always 'an investment property' to rent or sell on. You have to do the decor a certain way or other people won't want to buy/rent it. Whatever happened to buying a house, doing it up how you want it and then moving into it for a few years?

[ali_alic]

Whereas I can appreciate your views I am what is laughingly called these days a property developer. However I have been doing if for years - long before it became popular and on a much smaller scale. Basically I am a single woman who having worked all her life decided I wanted to carry on enjoying my life - well into retirement. My first house I bought all on my own and did up all on my own and although it increased in value, so did all the other houses. I then scraped together enough to put a deposit on another one - and it went on from there. The only true way to make a profit is to have one property surplus. I can't say that my properties have ever made astounding profits on my "doing up" efforts. It has purely come from increase in house values - a profit you wouldn't get if you only owned one house because the next house you buy would probably have gone up that amount anyway. I now have one abroad which is being rented out to cover the mortgage payments but the long term is for me to possibly sell up the UK house and go and live abroad. But yes, we British are obsessed with owning property. Wait until they lift the restrictions on owning celestial bodies (not Pammy or Jordan!!) - lets see who will have the first buy to let on the moon!! Then find they can't sell it cos there's no atmosphere!! (sorrrrrry about that!!)

[cascarelli]

Why? Er, to make money?

[heathfield]

I think one of the reasons for the demand for more property is that fewer people are living together these days - everyone just wants a place of their own.

[Toby-1-kenob]

Thanks heathfield, an angle I hadn't thought of, cheers