What do you predict?

mitchaa

There are some optimists here.

Prices will drop to £150k before a 6mth stagnation period. People will then get the confidence to buy and 6mths later, prices will start to rise again.

Those hoping for £100k are bonkers, i'll have 2 then and so will every Tom !!!!!! and Harry in the UK. You can argue as much as you like but mortgage lenders have not restricted their lending criteria. You can still get the same mortgage multiples as you were able to do so this time last year.

Things are already starting to pick up elsewhere right now, interest rates have been slashed, fuel prices are back to under £1 per litre, food prices are due to drop soon, banks have had a massive cash injection.

There is now a light at the end of the tunnel.

£150k as above.

Can we revisit this thread please in 6-9mths time;)

moneymass

mitchaa wrote: »

There are some optimists here.

Prices will drop to £150k before a 6mth stagnation period. People will then get the confidence to buy and 6mths later, prices will start to rise again.

Those hoping for £100k are bonkers, i'll have 2 then and so will every Tom !!!!!! and Harry in the UK. You can argue as much as you like but mortgage lenders have not restricted their lending criteria. You can still get the same mortgage multiples as you were able to do so this time last year.

Things are already starting to pick up elsewhere right now, interest rates have been slashed, fuel prices are back to under £1 per litre, food prices are due to drop soon, banks have had a massive cash injection.

There is now a light at the end of the tunnel.

£150k as above.

Can we revisit this thread please in 6-9mths time;)

I don't post on this board very often so I don't know what your usual posts are like.

Joke?

Edit

Mixed up your timeline with 'this will happen then this'

Still, I think you're optimistic.

tsstss7

I think 120 k

skap7309

mitchaa wrote: »

There are some optimists here.

Prices will drop to £150k before a 6mth stagnation period. People will then get the confidence to buy and 6mths later, prices will start to rise again.

Thanks for that mystic meg. So what are the euromillions numbers this week?

The fact is nobody knows. My guess is around 140k - 150k if planned 07 levels of lending are foolishly returned.

Just one slight factor that people seem to be forgetting though.
In this day and age it is very easy to keep track of where HP are heading. A statement i hear ALL the time is potential buyers (me included) are sitting back and watching the fall. If such a large percentage of people are doing the same.....................would prices ever stop falling? Doesnt 50% drops now look ever more realistic?

moneymass

House prices will return to what people are able to afford.

This is what banks will hand out.

No more liar loans/mortgage fraud, no more 100+% LTV. 10 % min deposit and proof of income. Sensible multiples of salary.

So, Average Salary*~3.5 with a 10 % deposit.

My 'guess' is that in 2 years time we'll be near the bottom for which the above model will be used/ more common place

And I think the above will show the trend towards the median house price in 2 years, average of course will be slighty higher.

mystic_trev

I'd say they'll be at least another 20% drop by December 2009, taking us back to mid 2003 prices. However, if you take inflation into account, that'll actually be early 2001 prices.

manhattan

pickledpink wrote: »

£197,500:money:

:laugh: :laugh: :laugh: :laugh: :laugh:

TDS_2

Those that were predicting 50% drops a while back are no longer looking so crazy. I therefore predict 120% drops.

Chris2685

moneymass wrote: »

House prices will return to what people are able to afford.

This is what banks will hand out.

No more liar loans/mortgage fraud, no more 100+% LTV. 10 % min deposit and proof of income. Sensible multiples of salary.

So, Average Salary*~3.5 with a 10 % deposit.

My 'guess' is that in 2 years time we'll be near the bottom for which the above model will be used/ more common place

And I think the above will show the trend towards the median house price in 2 years, average of course will be slighty higher.

I think in an ideal world that would be right. Unfortunately it seems that politics always comes into play, and our government seems to think that ever rising house prices is a good thing for some reason...

manhattan

Chris2685 wrote: »

Unfortunately it seems that politics always comes into play, and our government seems to think that ever rising house prices is a good thing for some reason...

Easy, making people think that they are richer than they really are wins votes!