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

besonders1

I believe that they could go back to late 1990s due to the lack of mortgages and unemployment as even 10 years ago people had jobs and could lend off banks without any problems. I could then see them rising again half way to 2002 etc when the recession begins to fade and a healthy job market returns but as others have said "when" is a question I can't say. Not everyone bought in 2007 though so not all will be in trouble. The biggest problem I can see is when banks will start lending again and at what levels will then lend out at?

beingjdc

When I bought in late 2003 I paid £82k. In that block, people are still asking £110k (and have been asking it and not getting it for a year now). A place I would have preferred to buy at the time, but was not available, just sold for £65k.

kev_pecker

I notice people have been talking about averages and their irrelevance to the the local market each individual lives in. I have been monitoring Righmove for about a year (with the help of property bee) and I would say I haven't really seen a massive change in the asking price for houses.

Are there any sources of information I could use in an attempt to see how much prices have actually dropped and the volume of sales in comparison to previous years where I live?

I live in Gosport by the way, if anyone can help that would be much appreciated.

IveSeenTheLight

kev_pecker wrote: »

I notice people have been talking about averages and their irrelevance to the the local market each individual lives in. I have been monitoring Righmove for about a year (with the help of property bee) and I would say I haven't really seen a massive change in the asking price for houses.

Are there any sources of information I could use in an attempt to see how much prices have actually dropped and the volume of sales in comparison to previous years where I live?

I live in Gosport by the way, if anyone can help that would be much appreciated.

Answered in your new thread

JoolzS

My crystal ball tells me that prices will drop back to the exact price they were on the 22 September 1982.

My crystal ball also tells me is it as accurate as anything you can read online.

Julie

moneymare

Unless you are 'The Doctor' and can time travel, house prices won't go back to anything. Its 2009 - they'll find they're own level - just like they did in 1997, 2004 and 2008.