Roll up. Make your housing market prediction here.

ffacoffipawb

Reaper wrote:

Right, enough talk about why the market will go up/down. Time to make a prediction. That way you can remind me about it in the future and have a laugh at my expense - but only if you made a prediction yourself.

I PREDICT... house prices will fall 5% from their highs within the next 4 months and then stagnate (neither fall nor keep up with inflation) for the rest of 2005.

Go on, have a guess - but be specific. Let's see percentages and timescales.

Average -30% in total over the next 5 years.

North West worst hit (-40%), South East lowest hit (-25%)

meanmachine_2

Can I revise my prediction?

I think, if interest rates don't rise above 4.5% between now and, let's say, summer of 2006, then the market will drift, and this "soft landing" could well be the result.

But I do now think that, if we experience stagflation, and int rates hit even 5%, then bigger falls are on the cards.

Again, though, it'll vary from region to region, with London seeing the smallest falls, and Wales and the NW dropping by up to a third.

dean_ham

meanmachine wrote:

Can I revise my prediction?

I think, if interest rates don't rise above 4.5% between now and, let's say, summer of 2006, then the market will drift, and this "soft landing" could well be the result.

But I do now think that, if we experience stagflation, and int rates hit even 5%, then bigger falls are on the cards.

Again, though, it'll vary from region to region, with London seeing the smallest falls, and Wales and the NW dropping by up to a third.

I am a FTB from wales. Why do you think that NW and Wales will have the biggest drops?

Im going to hold onto my cash for at least 2 years and see whats going to happen but im just curious why you think my region will have the biggest drop?

Cheers Dean

dean_ham

Also i have been looking at property prices around my area over the last 6 months.

2 Properties that have caught my eye every week as the prices have dropped nearly every month.

Property one is a 4 bedroom end terrace flat garden to rear etc etc... started out at over £105,000 a couple of months back, has droped in price over the couple of months and now this week its priced at £83k (priced to sell it says on the advert)

Property two is a 3 bedroom is a scruffy looking mid terrace on the outside, and ive actually been in this property about 3-4 years ago(my freinds-freinds mother owns it) and its not actually modern inside, bit dated etc needs modernising. Close to local shops etc in a popular village. Started out at £89k couple of months back and the price has dropped again over the months and this week its up for £68k !

Prices are deffinatly dropping in my area! But again there are plenty of VERY VERY overpriced homes still on the market (overpriced being you could pick up terrace houses in my area for £20-30k 4 years back and now people £80-110k for a 3 bed TERRACE!!!!!!! makes me sick

Reaper

meanmachine wrote:

Can I revise my prediction?

Lol, changed your mind already? You made your prediction less than 3 months ago!

It's going to be hard coming up with a winner at the end of the year. I'll have to balance accuracy with how long ago the prediction was made, but I'll come up with something.

meanmachine_2

Ah, but I still change my mind less than the so-called experts

I don't see how anyone can make a prediction and then stick with it for a long period, when new data is being released all the time.

It was less than 6 months ago that the "experts" were predicting int rates would be at 5.5% by now! And these are people drawing fat salaries so that the rest of us can benefit from their wisdom. :rolleyes:

Stupidest prediction of the year? The BoE claiming that there was no longer a link between what people spend and house prices. Yes, most intelligent people don't spend more when their house price goes up. But sadly the majority of homeowners clearly aren't that intelligent, are they?

meanmachine_2

dean_ham wrote:

Prices are deffinatly dropping in my area! But again there are plenty of VERY VERY overpriced homes still on the market (overpriced being you could pick up terrace houses in my area for £20-30k 4 years back and now people £80-110k for a 3 bed TERRACE!!!!!!! makes me sick

You're lucky.

In most parts of London a three bed terrace would set you back upwards of half a MILLION pounds!

GreenB_2

Of course tyou have a choice..... you don't have to live in London (and why anybody wants to amazes me!)

Poppy9

BBC Houseprices Wales

IN_LIKE_EVERYONE_ELSE!

REPOSSESSIONS.

They are on the up and up, when they go up prices go down.

Hold on to your hats.

I am glad I am renting, my rent is less than the devaluation of property in my area, a friend bought a property for 310k, earlier this year the same house next door sold for 400K, the developers agreed at 330K he went in to the meeting and told them he could only get 310k mortgage, they bit his hand off.