How far will house prices fall [volume 5]
Discussion
156651 said:
This is true. You should read forums from around 2010 where apparently a massive crash was imminent. Prices have SKYROCKETED since.
Geographically dependant. Outside of London the growth has been steady but in many parts they have still not even seen a return to 2008 prices. Shnozz said:
Geographically dependant. Outside of London the growth has been steady but in many parts they have still not even seen a return to 2008 prices.
I sold my house in Luton in 2012 for £147kThis is similar, but in a slightly worse street
https://www.rightmove.co.uk/property-for-sale/prop...
yours for £290k
spikeyhead said:
I sold my house in Luton in 2012 for £147k
This is similar, but in a slightly worse street
https://www.rightmove.co.uk/property-for-sale/prop...
yours for £290k
There's sold prices on that listing for £150K and £160K in 2006.This is similar, but in a slightly worse street
https://www.rightmove.co.uk/property-for-sale/prop...
yours for £290k
Looking at a Luton house price graph, they were pretty flat from 2004 to 2014. Then they took off. A lot of places haven't had that surge and are still just bumbling along.
loafer123 said:
UpBeats said:
House prices are toast. Look at builders shares. Follow the money. We will be down 20pc by next April.
Certainly down a fair chunk.Mind you, house prices are determined by affordability, and gilt yields are down heavily too, making long term borrowing even cheaper than it was.
spikeyhead said:
Shnozz said:
Geographically dependant. Outside of London the growth has been steady but in many parts they have still not even seen a return to 2008 prices.
I sold my house in Luton in 2012 for £147kThis is similar, but in a slightly worse street
https://www.rightmove.co.uk/property-for-sale/prop...
yours for £290k
I'm originally from South Hampshire and would say 2008 seemed to have a less pronounced effect - house prices stayed resilient in general. However, I have not seen this phenomenal growth spurt post 2014.
Until last year I happened to have a house in East Midlands. That tanked 20% or so at 2008, gradually climbed back up but even at today its barely beyond its 2008 high.
Likewise I live in Leeds these days and 2008 hit hard. Yes, I would say that Leeds centre has enjoyed a fairly steep rise since 2014, but many of the properties are still below their 2008 peak. Move outside of the city centre and to the burbs and you will see a relatively flat line that has now been apparent for 15 or so years.
London, and the counties immediately surrounding it (commuter belt) is not representative of behaviour elsewhere, for the most part.
UpBeats said:
People pulling out left right and centre. Prices plunging according to estate agent i know in london area.
Interesting - I was talking to the head of resi for one of the largest agents in the UK only this afternoon, who was saying that the London market is performing more strongly than he's seen for four years. Whilst he was particularly bullish, this is the sentiment Ive been observing all this year. Absorption rates still remain sluggish for new product from the volume house builders but, taken in the round, the London market has picked up rather than 'plunged'
Fanboy911 said:
We are heading into recession they can’t be good for the property market especially at the top end.
This whole virus business will stall things for now IMO too
I envisage a 6-9 month hiatus followed by a relief rally with little change in prices, but a jump in volumes.This whole virus business will stall things for now IMO too
Lenders are highly unlikely to default mortgages during a time of international crisis, keeping distress low.
ClaphamGT3 said:
Interesting - I was talking to the head of resi for one of the largest agents in the UK only this afternoon, who was saying that the London market is performing more strongly than he's seen for four years. Whilst he was particularly bullish, this is the sentiment Ive been observing all this year.
Absorption rates still remain sluggish for new product from the volume house builders but, taken in the round, the London market has picked up rather than 'plunged'
i speak to the agents daily, hourly, and have a billion quid of stock to shift at close to 4 grand a foot. Absorption rates still remain sluggish for new product from the volume house builders but, taken in the round, the London market has picked up rather than 'plunged'
Its picked up, but it had a very very very low base level to work off.
deals are happening, but i think the rush now is 11th March based rather than anything else.
z4RRSchris said:
ClaphamGT3 said:
Interesting - I was talking to the head of resi for one of the largest agents in the UK only this afternoon, who was saying that the London market is performing more strongly than he's seen for four years. Whilst he was particularly bullish, this is the sentiment Ive been observing all this year.
Absorption rates still remain sluggish for new product from the volume house builders but, taken in the round, the London market has picked up rather than 'plunged'
i speak to the agents daily, hourly, and have a billion quid of stock to shift at close to 4 grand a foot. Absorption rates still remain sluggish for new product from the volume house builders but, taken in the round, the London market has picked up rather than 'plunged'
Its picked up, but it had a very very very low base level to work off.
deals are happening, but i think the rush now is 11th March based rather than anything else.
Due to complete in 4 weeks or so. Must admit, am somewhat nervous about a 7 figure purchase given everything that is happening. Gazundering hasn't been eliminated as an option. So far the chain has remained solid, nobody making any noises, but I've had a few emails about 'property re-launch' which is concerning...
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