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Debate House Prices
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When do you think house prices will hit the bottom of the market?
neverdespairgirl
Posts: 16,501 Forumite
A poll.
When do you think the decline with stop?
Take it as being a nationwide average, rather than locality-specific, please.
When do you think the decline with stop?
Take it as being a nationwide average, rather than locality-specific, please.
...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.
Housing market nadir - when? 200 votes
June 2009
10%
20 votes
December 2009
26%
53 votes
June 2010
20%
40 votes
December 2010
14%
29 votes
June 2011
9%
18 votes
December 2011
8%
17 votes
June 2012
3%
7 votes
December 2012
2%
4 votes
June 2013 or later
6%
12 votes
0
Comments
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June 2013 or laterNo idea really, But I imagine in the next year or 2 they will be a fraction of what they are today.0
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June 2009By June 2009, the bottom will have been touched, alas not my bottom though0
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June 2009Stagnation will start 6-9mth into next year.0
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December 2009I think early 2010 so had to go for Dec 09 as that was closest.0
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June 2013 or laterI decided to be an extremist and choose the last date on your list, because I think the global economy is in big trouble and even if we don't have another depression, the recession is going to drag on for a long while. The levels of personal and national debt are unprecedented so I don't see where the money to buy houses at 2000-07 prices is going to come from. I think the rate of decline will start to level out in another year or two, but prices will fall at a much slower rate for some time.0
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December 2009december 2009 for meMy suggestion and/or advice is my own and it is up to you if you follow it, please check the advice given before acting on it.0
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December 2011Dec 2011, takes a long time to revive sentiment. Oh and find jobs for 3million people.0
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December 2011I went for December 2011. Don`t ask me why lol. On second thoughts it might well be a year earlier. who knows? I am watching the auctions carefully rifgt now, particuarly in Wales. Might retire there, not sure. There are some real reductions going on. South wales seemed to be late getting into the boom and the hpi happened over a shorter period. Yes Cardiff followed a similar trend to England but the rest of the country shot up over a few years.0
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June 2009neverdespairgirl wrote: »A poll.
When do you think the decline with stop?
Take it as being a nationwide average, rather than locality-specific, please.
You have predicted another 43 months before the market drops? Any particular reason to your suspicions?
Lets just say a very slow decline from now on, so if the market were to drop 1% every month for the next 43 months we would have a national average house price ITRO of £100k. (Based on nationwide current stats)
Annual salaries are continuing to rise, they did so in the last year so why not next year and so on? 4.5% rises upto June 2012 will put the Av salary at around £31k
£100k house prices and £31k average salary.
You are then getting very close to the average couple buying a mansion and a professional couple buying a castle scenario with these sorts of figures;)
This is basing it on very conservative drops of 1% also, so far i do not think we have seen MOM drops this low.
Who knows eh, we are all guessing. We may all get houses free when the tories are elected:D0 -
June 2009Additionally if the market bottoms out in June 2012, how long will stagnation last before rising again?0
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