Just thinking about moving.
Does anyone have any predictions about where the housing market is going?
Up or down?
Depends where, but I was under the assumption that prices had bottomed out and are now rising again.
Stoner will be along with a more detailed post I imagine soon.
Until people can get mortgages without huge deposits, or have had a while longer to save them, It'll stay slow around here. Not to say that asking prices might move a bit, but not many actual transactions compared to a few years back. Plenty of repos coming on the market, not just at the bottom end either.
That's who I'm waiting for.
Mortgage interest rates are starting to rise again, fwiw.
evenin'
my 2p:
I see fairly hefty interest rate rises on the cards in 2011 which will stamp on much house price inflation beyond 2010. RPI will also grow. House prices will remain stable/grow modestly through 2010 IMO. There's an outside risk of a second drop in house prices but I wouldnt expect any further falls to go below the bottom of summer this year, just wipe out any gains.
I bought a barn to convert 3 months ago and am pretty confident Ive got a bargin. Obviously selling my house later next year when we move in is not going to be great for capital performance since Sept 2005 when I bought it, but I reckon Ill make my capital back.
try www.housepricecrash.co.uk if you want to be told they'll crash.
I think they will probably go down next year and that seems to be the opinion of most people, even estate agents.
The recovery seems to have no firm foundations, poeple are still losing there jobs. Quantitative easing is keeping interest rates low. At some point we will need to take the hit and be taxed more with higher interest rates. This'll probably happen just after the Tories get in to government.
Still, I've just had an offer accepted on a house but it really depends on personal circumstances. Where, why, financial situation, how long you want to live there etc. etc.
I hate to say it but I think stoner is about right - not much change in house prices over the next couple of years - modest growth only.
Prices are rising around here - but only slowly and there was not much drop - but activity is so low that this is not really indicative
Savills have predicted a 6.6% drop in 2010, but who knows.
Houses are starting to shift quickly round here and the prices never really dropped much. Buy-to-let is looking quite healthy too. However I can't see prices rising too much short term as incomes need to catch up and people now need to save up deposits. The fundamentals haven't really changed as there is still a shortage of stock so prices will rise long term.
If the market goes mad next spring then you could see a drop in prices as there could be a surplus of supply compared to demand if alot of the people who have bought without selling feel its a good time to sell their old properties.
However there could be alot more people looking than properties available next year if interest rates stay low so prices should hold up.
It depends on which reports you read and which way the winds blowing on any given day, ask me again in 12 months 🙄
If your looking for a place to live long term then does it really matter. If your looking for somewhere to invest some cash long term then its unlikely you would lose your money. If your looking for short term gain then the risks are always going to be higher 😕