where do you think house prices will be in 10 years?

ad9898_3

jojo1964 wrote: »

If you combine a massively rising population with a house building programme fallen way behing govt. targets, its not difficult to see that in a few years house prices will be back to their peak of last year.

Supply and demand.

And if there was such a demand, where are the funds going to come from ? After all if there are no or not enough funds, demand is irrelevant.

MrFonzerelli

artisan wrote: »

As it says ..... looking into your own crystal ball, will house prices still be such a hot topic and where will they be in 2019?

On rightmove. :rolleyes:

hundredk

ad9898 wrote: »

And if there was such a demand, where are the funds going to come from ? After all if there are no or not enough funds, demand is irrelevant.

Yep, :T the decline has to stop before recovery can start and even when that happens there will be a lot of cautious people out there...and would the banks be willing (or able) to lend to the 5-6x income and 125% LTV that caused prices to rise so much in the first place - not IMO

ukcarper

hundredk wrote: »

Yep, :T the decline has to stop before recovery can start and even when that happens there will be a lot of cautious people out there...and would the banks be willing (or able) to lend to the 5-6x income and 125% LTV that caused prices to rise so much in the first place - not IMO

Why would they have to in the past house prices have rocketed with out the banks lending 5-6x income

hundredk

ukcarper wrote: »

Why would they have to in the past house prices have rocketed with out the banks lending 5-6x income

Supply and demand - you can only get what is within your means.

Income:House price ratio has increased significantly since last boom, hence ppl buying what they may not realistically be able to afford. http://www.mortgageguideuk.co.uk/first_time_buyers/mortgage-income-ratios.html

Same thing with easy credit.

Stands to reason if you can only get a mortgage of 3x income that you can't afford as much as 5-6x.

Cleaver

ad9898 wrote: »

And if there was such a demand, where are the funds going to come from ? After all if there are no or not enough funds, demand is irrelevant.

I think the funds will come from the banks. The same banks that will forget everything once we start booming again and will come up with new and fancy products to lend to people who want to borrow.

This is over the next ten years I should add, not in the next two or three.

pickles110564

hundredk wrote: »

Supply and demand - you can only get what is within your means.

Income:House price ratio has increased significantly since last boom, hence ppl buying what they may not realistically be able to afford. http://www.mortgageguideuk.co.uk/first_time_buyers/mortgage-income-ratios.html

Same thing with easy credit.

Stands to reason if you can only get a mortgage of 3x income that you can't afford as much as 5-6x.

Yes but if people started off at the bottom of the price range then moved up in sensible steps there would be no problems. However all the doom mongers expect to jump straight in to a 5 bed detached with an acre of land, they need to get real.

sabretoothtigger

Dan: wrote: »

Likely to be just getting back to the 2007 peak

If we're talking real value not nominal pricing, that would be the optimistic view I think.

If in doubt check back on 1990 prices and how long that took then assume 50% longer say

Dan:_4

sabretoothtigger wrote: »

If we're talking real value not nominal pricing, that would be the optimistic view I think.

If in doubt check back on 1990 prices and how long that took then assume 50% longer say

Im talking about nominal

chucky

sabretoothtigger wrote: »

If we're talking real value not nominal pricing, that would be the optimistic view I think.

If in doubt check back on 1990 prices and how long that took then assume 50% longer say

or 50% quicker as the price drops were quicker - i don't know the answer but it's just a thought...