FabSwingers.com forum: House prices

By *azzyx OP Man
over a year ago

Buckinghamshire

What do you think will happen to house prices in the next five or so years ?

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By *ire_bladeMan
over a year ago

Manchester

"What do you think will happen to house prices in the next five or so years ? "

I'm counting on them going up. Im planning my early retirement in the sun

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By (user no longer on site)
over a year ago

The rule of thumb says sooner or later there heading downwards for lots of reasons...

The big question is when?

This year could be it but then next year if they manage to keep pumping money into the system.. How long can they keep the bubble going, if I knew that id be sat in Barbados

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By *icketysplitsWoman
over a year ago

Way over Yonder, that's where I'm bound

We need a crash in prices to even out the market. Demand is outstripping supply so that won't happen unless the anticipated rise in interest rates leads to repossessions for those already overstretched.

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By (user no longer on site)
over a year ago

Except London, I don't think the market has risen that much since the last dip. So I think it's got a way to go yet!

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By (user no longer on site)
over a year ago

I really don't know. If there's going to be a crash I'd prefer it to be confined to the SE where the big problem is, but of course it doesn't work like that. Many areas in my region haven't recovered to prices as they were before the last crash - so it wouldn't be a correction so much as a further reduction.

From a selfish pov it would be nice if increases continued so my loan to value % decreased and maybe put me in better reach of decent mortgage rates, but it's not really an issue for me as I plan staying in this house for a very long time anyway.

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By *eMontresMan
over a year ago

Halesowen

I think they've only dropped once in recorded history, and then only for a few years - I'd bet they'll continue to rise indefinitely unless there's a sea change in the whole financial basis of society

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By *icketysplitsWoman
over a year ago

Way over Yonder, that's where I'm bound

"Except London, I don't think the market has risen that much since the last dip. So I think it's got a way to go yet!"

London, where the first shared-ownership 'affordable' property has been valued at £1.3m. Where a fixer-upper in a relatively central London location I know of sold for £1.75m to overseas buyers just wanting the footprint.

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By (user no longer on site)
over a year ago

Not quiet sure but I think soon start dropping down

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By (user no longer on site)
over a year ago

I bought a house 8 years ago with my ex and recently sold it for £14k less than when we bought it. Cost me £2k in total to sell so for me £9k loss. As a result I am hoping they go down even more. I won't be able to afford to buy again on my own, well I would but in a crappy area or 1 bedroom, or unless they start doing 100% mortgages again.

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By (user no longer on site)
over a year ago

"Except London, I don't think the market has risen that much since the last dip. So I think it's got a way to go yet!

Probably some russian bought it

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By (user no longer on site)
over a year ago

Lots of expensive London properties are going to overseas buyers as investments.. the government can't afford a dip in London. . As rents go sky high the investers rake in the profits.

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By (user no longer on site)
over a year ago

why isn't there a financial instrument that enables speculators to short the London/Cambridge property market ?

12 times earnings is never never land..and the earnings are inflated by the city so prob 17 times normal Londoner.

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By *uny1122Man
over a year ago

longeton

Wow wow wow ,houseing price I m thinking about pussie price love ,what u r talking here

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By (user no longer on site)
over a year ago

Not sure, all I know since CrossRail the house prices in my area have increased dramatically ~ on one had good as I've made money on mine, on the other hand not so good as I can't afford to move.

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By *erbyDalesCplCouple
over a year ago

Derbyshire

"What do you think will happen to house prices in the next five or so years ? "

Up.

(I had a much more detailed answer, but I pressed the wrong button

)

Mr ddc

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By *icketysplitsWoman
over a year ago

Way over Yonder, that's where I'm bound

"Not sure, all I know since CrossRail the house prices in my area have increased dramatically ~ on one had good as I've made money on mine, on the other hand not so good as I can't afford to move."

That's the real issue - the money isn't real. We need to get back to thinking of housing as basic necessity and not as a profit plan.

Everyone takes the price they 'paid' for the property as the point at which they work out their loss or gain. The cost of the mortgage is not nil. If I work out my 'profit' on my home in this way then it would appear that I made a killing. The reality is that I can't afford to buy anything of equal or more space unless I move to Pity Me and give up my life here.

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By *om and JennieCouple
over a year ago

Chams or Socials

"Not sure, all I know since CrossRail the house prices in my area have increased dramatically ~ on one had good as I've made money on mine, on the other hand not so good as I can't afford to move."

I'm in a similar situation - looking at downsizing in 2 or 3 years but need to stay in catchment & it's just not worth giving up our extra space to only save £10k.

If I didn't mind where we lived I could potential go mortgage free or halve what I currently owe.

The house 3 doors away which has no extensions or conservatory has just gone up for rent at twice what my monthly mortgage payment is!! No way could I afford that!!

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By (user no longer on site)
over a year ago

In simple terms, the average house price cannot sustain itself, let alone rise if the average person cannot buy it.

So take the average wage of an area, multiply it by two working people and multiply that by 4 or 5 for the mortgage and if the average house exceeds that value then we are set for a crash.

Which in our area - it does!

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