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house prices in uk stabalising

house prices in uk stabalising

Old Jan 14th 2007, 10:26 am
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Default Re: house prices in uk stabalising

Originally Posted by davo453 View Post
If your into doom and gloom or not depending on your perspective, then this is worth a look for more statistics, articles and opinions than you could poke a stick at

http://www.housepricecrash.co.uk/

Dave
That graph certainly makes it look like something nasty is coming to the UK house market.. given the way my life has been going of late I would expect the crash to come in the UK about 24hours after I buy another home.

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Old Jan 14th 2007, 10:34 am
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Default Re: house prices in uk stabalising

Originally Posted by iamthecreaturefromuranus View Post
That graph certainly makes it look like something nasty is coming to the UK house market.. given the way my life has been going of late I would expect the crash to come in the UK about 24hours after I buy another home.

I know the feeling, i think we may take the gamble and rent for a while. It's anybodies guess what might happen, but things do seem over bought right now.

Dave
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Old Jan 14th 2007, 10:50 am
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Default Re: house prices in uk stabalising

There is now way that the UK house market can continue as it is...then again, it is a small island and a lot of people move there every day.

The house where we lived in N. Wales was bought in 1997 for about 70k, and it was valued in 2004 for 225k. It finally sold for about 180k cash. Not that I would want to be back there, but just having a place that was paid for was a nice thing. Right now just hoping the wife can make partner at her law firm and we can get a place near Deansgate in Madchester.
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Old Jan 14th 2007, 11:04 am
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Default Re: house prices in uk stabalising

Anyone have insights or opinions on the relaxing of planning permission restraints on undeveloped land?

If its in the winds as I've heard it might well be, it might not be a bad idea to buy some land & let it sit until you can do something with it (build later).
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Old Jan 14th 2007, 11:21 am
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Default Re: house prices in uk stabalising

Originally Posted by iamthecreaturefromuranus View Post
That graph certainly makes it look like something nasty is coming to the UK house market.. given the way my life has been going of late I would expect the crash to come in the UK about 24hours after I buy another home.

oh, god, dont say that!
i know what you mean about luck though. in a maulderling mood today
2 years ago, i had all the hope/luck in the world. i tried to make a change to another country believing it would be better for our family. came home in less than a year with no money, no house, nearly no marriage (thank god thats ok now), no job and for what? i remember the overwhelming sense of relief getting off that plane at heathrow. My time in Oz cost me my health and sanity too for a while, and i remember getting off the plane with 2 kids, a dog and no OH and £200, thinking what the f do i do now? but i hold onto the fact that the sense of relief and peace of mind was worth all that and ive moved on miles now.
i really admire (and am a little envious ) of those that settle in Oz, or come back just because of personal preference only, because they have lived their dream and move on to the next chapter.
i hate the godzone people who slag us off for not coping there. they have no idea. I absolutely loved most of Australia (although lots of things pissed me off) it wasnt the country, it was the trauma experienced there. self preservation to prompt move back. i dont regret moving back, but wish i maybe had been a different character there. who knows? just sometimes dealing with the fallout is hard.
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Old Jan 14th 2007, 11:27 am
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Default Re: house prices in uk stabalising

TBH I can't see UK property prices crashing any time soon, for 2 main reasons.
1) There are more and more people who all want houses, thus demand>supply.
2) Housing is a huge priority - people will sacrifice lots of other things in order to be able to buy their own home.

Those, combined with the willingness of banks to lend obscene amounts of money, and parents to support their middle-aged children, mean that people will keep paying high property prices for at least a few years yet.

On the plus side, prices do seem to have slowed down over the last couple of years (when I owned my house, typical!) and interest rates are creeping up to discourage excessive borrowing.
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Old Jan 14th 2007, 12:01 pm
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Default Re: house prices in uk stabalising

Originally Posted by esperanza View Post
TBH I can't see UK property prices crashing any time soon, for 2 main reasons.
1) There are more and more people who all want houses, thus demand>supply.
2) Housing is a huge priority - people will sacrifice lots of other things in order to be able to buy their own home.

Those, combined with the willingness of banks to lend obscene amounts of money, and parents to support their middle-aged children, mean that people will keep paying high property prices for at least a few years yet.

On the plus side, prices do seem to have slowed down over the last couple of years (when I owned my house, typical!) and interest rates are creeping up to discourage excessive borrowing.
i agree
cant see a huge drop in prices at the mo, but reckon that people will stop guzumping as see things as not worth it, and you might even be able to knock people down a few grand if they want to sell quickly etc.
otherwise, i reckon what we have now is what we will have for a while.
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Old Jan 14th 2007, 2:05 pm
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Default Re: house prices in uk stabalising

Originally Posted by gardnma View Post
Anyone have insights or opinions on the relaxing of planning permission restraints on undeveloped land?

If its in the winds as I've heard it might well be, it might not be a bad idea to buy some land & let it sit until you can do something with it (build later).
i personally would like to see all the green areas be developed into large concrete blocks of soviet style apartment buildings. start building outwards and upwards until the whole of the UK looks like houston.
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Old Jan 14th 2007, 2:10 pm
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Default Re: house prices in uk stabalising

Originally Posted by dunroving View Post
The sad thing is that if we (presumably mostly professionals) are struggling, the poor buggers at the bottom of the food chain have no chance ...
They'll be ok - they get to buy their council houses at a massive discount which puts them nicely on the ladder.
Its young professionals who bear the brunt of the problems as per usual.
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Old Jan 14th 2007, 2:15 pm
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Default Re: house prices in uk stabalising

Originally Posted by esperanza View Post
TBH I can't see UK property prices crashing any time soon, for 2 main reasons.
1) There are more and more people who all want houses, thus demand>supply.
2) Housing is a huge priority - people will sacrifice lots of other things in order to be able to buy their own home.

Those, combined with the willingness of banks to lend obscene amounts of money, and parents to support their middle-aged children, mean that people will keep paying high property prices for at least a few years yet.

On the plus side, prices do seem to have slowed down over the last couple of years (when I owned my house, typical!) and interest rates are creeping up to discourage excessive borrowing.
You're overlooking a large reason for the boom - people buying property for investment reasons who as a result have multiple properties - they are particularly vulnerable to interest rate rises and once the critical point is reached a lot of one-time investment properties could hit the market at once, causing a blip which will hopefully turn into a collapse.
For people with only one house this is less of a worry - you may end up with negative equity but your ability to pay your mortgage is not linked to the relative strength of the market.
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Old Jan 14th 2007, 2:21 pm
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Default Re: house prices in uk stabalising

i expect foreclosures to rise as the interest rate hike kicks in and screws up people with ARMS, this will lead to a drop in house prices.
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Old Jan 14th 2007, 2:44 pm
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Default Re: house prices in uk stabalising

Originally Posted by BigDavyG View Post
You're overlooking a large reason for the boom - people buying property for investment reasons who as a result have multiple properties - they are particularly vulnerable to interest rate rises and once the critical point is reached a lot of one-time investment properties could hit the market at once, causing a blip which will hopefully turn into a collapse.
For people with only one house this is less of a worry - you may end up with negative equity but your ability to pay your mortgage is not linked to the relative strength of the market.
Personally I think that the rise in demand will balance out the drop in investment purchases. The boom in buy-to-let died down a few years ago - plenty of people who had stretched to buy 2nd properties realised that the rental income was not high enough to make it worthwhile. Rents seem to have been quite steady for a while now - certainly they have not risen as much as house prices.
As soon as investors start to off-load their properties there will be thousands of eager young people snapping them up - the market will plateau, but not crash. The only thing that might lead to a crash, IMO, would be a very steep rise in interest rates - even then lots of people are on fixed rate deals. I don't think the Bank of England is stupid enough to deliberately cause a crash. Well I hope not anyway! Although if there was a crash I'd be straight back over to buy something.
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Old Jan 14th 2007, 2:47 pm
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Default Re: house prices in uk stabalising

Originally Posted by moving2montreal View Post
i personally would like to see all the green areas be developed into large concrete blocks of soviet style apartment buildings. start building outwards and upwards until the whole of the UK looks like houston.
Well, at least that will negate one of the purposes of moving back there....
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Old Jan 14th 2007, 3:40 pm
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Default Re: house prices in uk stabalising

Originally Posted by iamthecreaturefromuranus View Post
Sod stabalising... what I need is a good old fashioned crash. If that happens I might even be able to buy back the house I sold to get here.
......I'll second that......
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Old Jan 14th 2007, 3:41 pm
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Default Re: house prices in uk stabalising

Originally Posted by Miss Naughty View Post
Hi,
They might be stabilizing but they are still OTT in price.
So are houses in Spain, lol! What you doing in here, you haven't gone yet!! Seriously, wish I'd been visiting this forum before I moved, might have thought twice.......but then again........argh!

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