Property North East?

kerryi27

Do people think house prices in North East England will fall further or less than say London areas. Has this hike in prices not just brought the North East more in line with average UK house prices?

I am hoping they will go down but not fall as much as other areas.

mewbie_2

I haven't the first idea, about either market. But I think that if you take house prices say 10 years ago as being the base attached to a street made of rubber. Someone took all the houses, and their prices, and stretched and stretched and s.t.r.e.t.c.h.ed. as hard as they could until .... SNAP... then your guess is as good as mine.

So it could depend how far they stretched around your area.

The more I type stretched the less correct it looks.

Generali

naughtyweasel posted this link on the ever wonderful fool.co.uk website showing the relative appreciation of prices in Middlesborough (never been - my guess is it's a less than thriving former industrial city with very low incomes) and Wandsworth (a fair to middling South West London suburb which isn't on the tube).

Middlesborough prices are looking pretty stretched. I wonder what happens if you compare Wandsworth with Barnsley or Bury or Bradford in the same way?

My feeling has long been that London is riding for a fall but the places where prices are really crazy are the ones that don't really have much of an economy beyond what the Government spends there. The North East of England and good chunks of coastline being prime among them.