2009 House Price Forecast - HPC Board beats Halifax and Nationwide

overlander

Down more than 35%

LittleMissAspie wrote: »

I'm not sure 2% per month could be sustained for a whole year though, after 9 months of it already. As prices get a little more in reach, drops will slow. By the end of 2009 they might be dropping at 0.5-1% per month? Who knows, but that's my very cautious prediction

No you are right 2% will not be sustained thats before all the job losses, start looking at 3-5% per month when this really kicks off. It has to happen so its a good thing, house price drops are good.

mitchaa

Down between 3% and 10%

overlander wrote: »

I think a lot of people are in for a shock this baby is just starting, years of financial incompetency to unwind.

Any chance of the 6 numbers for tonight please:whistle: :snow_grin

mitchaa

Down between 3% and 10%

overlander wrote: »

No you are right 2% will not be sustained thats before all the job losses, start looking at 3-5% per month when this really kicks off. It has to happen so its a good thing, house price drops are good.

36-60% drops in a year, average of 48%, Great:rolleyes:

You need to venture outside now and again and to stop watching the news.

NEXT.

overlander

Down more than 35%

Never said for the full year now your jumping to conclusions but yes 50% of the peak sounds about the correct value when this has ended.

overlander

Down more than 35%

Lets say i am right and they do lose 50-60% so what its not a bad thing. It means people will still be able to buy a family house and have a life so whats the big deal. The only losers will be the banks again big deal.

mitchaa

Down between 3% and 10%

overlander wrote: »

Never said for the full year now your jumping to conclusions but yes 50% of the peak sounds about the correct value when this has ended.

Average house price ITRO of £90k then, if so, would you say that if you can afford a £180k mortgage at the moment you would then buy 2 of these houses next year or whenever you predict the bottom to be.

We can see from the poll that you are in the -35+ category for the next 12m along with Brit1234.

I'll be the 1st to apologise to you next year for ridiculing your opinion should it come true;)

mitchaa

Down between 3% and 10%

overlander wrote: »

Lets say i am right and they do lose 50-60% so what its not a bad thing. It means people will still be able to buy a family house and have a life so whats the big deal. The only losers will be the banks again big deal.

Dropping house prices in theory are good for everyone, as it then allows you to move up the ladder more cheaply.

You are however forgetting 1 very important point here, many millions have bought in the last 5yrs or so and do not have 50% equity to lose. So with that, not everyone is hoping for 50% drops as it will leave a fair few million in negative equity and they would not be able to move or upgrade, even if they wanted too.

Good for FTB's though but a stinker for anyone with a mortgaged house already.

neverdespairgirl

Down between 10% and 15%

StevieJ wrote: »

5%

do you really expect house prices to rise 5% next year, incl. 4% in the 1st quarter? Or have I misread something?

overlander

Down more than 35%

I agree mitcha but they really should have know better especially the last 3 years, anyone with a brain must have realized they were putting themselves in danger of negative equity. Maybe they were watching the news too much :-)

overlander

Down more than 35%

This should be interesting, why do we not re-visit this thread ever quarter for an update.