House prices - what year will they go back too? (2000, 2001 etc)

mrsjanejane

More curious about people's opinions with this question!

What year do people think house prices will go back to? everyone keeps talking about percentage drops, but what does it mean for prices in the previous year.

I just got a house for 2003 price, what have other poeple got theirs for?

I know that some figures are not accurate on ourproperty etc, but the majority will be.

abaxas

If you go with the IMF you get 2000+ inflation

Which I beleive is somewhere in 2002!

amcluesent

Well if they back to 1988 then I fold!

mitchaa

Back to £140-145k whatever year that is? 2004?

LilacPixie

depends on property type and area.

beecher

mitchaa wrote: »

Back to £140-145k whatever year that is? 2004?

they're already at 2004 levels. I think they'll go as far as 2001 prices - where I live 1 bed flats were £135,000 at the peak and I've always felt they'd end up going for somewhere in the high £60,000s.

King_Of_Fools

There is a house for sale near me with an asking price only £950 more than the price it sold for in 2003! It has been on the market for almost a year now (according to the HIP).

mitchaa

beecher wrote: »

they're already at 2004 levels. I think they'll go as far as 2001 prices - where I live 1 bed flats were £135,000 at the peak and I've always felt they'd end up going for somewhere in the high £60,000s.

According to the Halifax, Nationwide state something totally different

Q4 2005 Q1 2006

beecher

mitchaa wrote: »

According to the Halifax, Nationwide state something totally different

Q4 2005 Q1 2006

Don't know what you mean. I am talking about the area I live in. Prices were £135,000 at the peak, and in the high £60,000s in 2001 - that's where I think we're heading. We can all really just talk about where we live and what we know.

blued

Where I live nothing has changed much. Most prices have levelled off and there are more fixed prices about but I wouldnt say there have been the drops that are reported in the media. Saying that when the BBC says UK they mean England dont they? ;-)

I had my house valued in April 2008 and it was up 25k from when I bought it in March 2006. I'd need nearly a 50% drop to be in negative equity so have no worries yet!

mitchaa

beecher wrote: »

Don't know what you mean. I am talking about the area I live in. Prices were £135,000 at the peak, and in the high £60,000s in 2001 - that's where I think we're heading. We can all really just talk about where we live and what we know.

You are talking here of 1bed flats though are you not? The average home is not a 1 bed flat, more like a 3bed SD.

I agree with you £135k for a 1/2bed flat in Glasgow, even in the centre is ludicrous money. Your £135k flats may drop to £60k (I hope they do) but your average 3bed semi detached dropping to sub £100k?

Glasgow is a big area.