House Prices Only Set To Fall By Maximum 20% In Total

bigfatbelly

These figures aren't just in today's newspapers and on the internet news - they were reported on the national BBC News tonight.

They were giving FACTS and FIGURES. NOT speculation!

And the FACT is that property has dropped just 8.9% and they expect it drop another 12% next year when it will then reach its bottom. That makes a 20% reduction from the peak.

Of course you'll have the odd properties that were overpriced in the beginning dropping more - just as you'll have some properties only dropping by 10 or 15% in total.

But you must admit it's good news that many homeowners are rushing to pay off their mortgages! :money: Obviously, with fewer forced sales there will be less bargains up for grabs!

mewbie_2

All together now, it's Mewbie's Gang Show...

"We're riding along on the crest of a slump..."

beingjdc

bigfatbelly wrote: »

These figures aren't just in today's newspapers and on the internet news - they were reported on the national BBC News tonight.

They were giving FACTS and FIGURES. NOT speculation!

And the FACT is that property has dropped just 8.9% and they expect it drop another 12% next year when it will then reach its bottom.

How is what someone expects not speculation?

I presume the 8.9% is the Hometrack numbers. That's one survey (and it showed lower increases during the boom, so might just be a stickier index). Others are Nationwide and Halifax, showing falls of 15-20% from the peak already, with no end in sight.

islandannie

chucky wrote: »

Ad, i wouldn't totally disregard the amount of cash still floating around ready to be invested. To be fair to your point I don't think it will go immediately into property because as you say prices will flatten out for a good while before they move upwards.

the below link believes it will go into equities but in time will go back into property
http://www.bloomberg.com/apps/news?pid=20601213&sid=aHYVLN8ZJtsc&refer=home

I,m not interested apart from the fact that I will get richer,

You all look after youselves ----if you can.

Cat695

Airwolf1 wrote: »

Is that mentioned on the site too? Can you provide a link please?

yes once you click on the link in my previous post click on one of the top two...and it tells you the current average price

Cat695

islandannie wrote: »

I,m not interested apart from the fact that I will get richer,

You all look after youselves ----if you can.

Then why come on here then?? other than make yourself look like a moron

macaque_2

bigfatbelly wrote: »

Reports in all the newspapers today (including the News channels) say that house prices have fallen 8.9% this year and are expected to fall by another 12% in 2009 until they bottom out.

So we're looking at 20% reductions from the peak which I suppose is about right.:money:

The report also says that people are rushing to pay off their mortgages, so this will mean fewer distressed sales.

Good news for present homeowners (most of them anyway) but not so good news for those waiting and hoping for the price falls that haven't materialsed.

Here's one of the links to the report

http://www.dailymail.co.uk/news/article-1102446/Homeowners-seek-cut-debt-experts-warn-house-prices-plummet-12-2009.html

This post has such a heavy odour of troll about it and I might have been inclined to ignore it. But then again trolls are entitled to a response.

The article is remarkably down beat; so to discover that you you were citing it as evidence of light at the end of the tunnel came as something of surprise. I was also a bit puzzled by your reference to the 20% reductions from peak. The article did not give loss projections beyond 2009.

I would also suggest you treat all property price predictions with a healthy measure of scepticism.

OCTOBER 2007 - So where will prices be in 12 months?

Stuart Law

Managing director of property investment advisers Assetz.

Up 5-7%

Ed Mead

Director of Douglas & Gordon Estate Agents.

Up 1-9%

Henry Pryor

CEO of property website PrimeMove.com.

Down 15%

John Wriglesworth

Managing director of Wriglesworth Consultancy.

No movement

http://www.moneyweek.com/investments/property/are-we-heading-for-a-house-price-crash.aspx

Cat695

bigfatbelly wrote: »

These figures aren't just in today's newspapers and on the internet news - they were reported on the national BBC News tonight.

They were giving FACTS and FIGURES. NOT speculation!

And the FACT is that property has dropped just 8.9% and they expect it drop another 12% next year when it will then reach its bottom. That makes a 20% reduction from the peak.

Of course you'll have the odd properties that were overpriced in the beginning dropping more - just as you'll have some properties only dropping by 10 or 15% in total.

But you must admit it's good news that many homeowners are rushing to pay off their mortgages! :money: Obviously, with fewer forced sales there will be less bargains up for grabs!

AGAIN

I would rather believe BANKS AND LR figures than your link thank you

Accept it

islandannie

The fact that You would prefer to beleive the failed and nationised banks as qapposedto us ground fl oor investers says a lot.

Cat695

islandannie wrote: »

The fact that You would prefer to beleive the failed and nationised banks as qapposedto us ground fl oor investers says a lot.

well seeing as the failed banks aren't lending money (in the same newspaper as fatblokes link) and people are losing their jobs daily (BBC news) and more and more companys are going out of business I think YOUR wrong and I'M right;)