Mini Boom in the future?

kriss_boy

Houses arent shifting.

You only have to speak to estate agents or look on the internet to see the driftwood thats sat on the market for many, many months!

With this in mind, is it possible in 12-18months there will be a slight boom in prices, but only to a point where houses jump back a shade on what they were formerly worth.

Say you have a decent 2 bed flat in early 2009 struggling to sell for 75K. If FTBs do save up and the mortgage lenders begin to loosen up then surely there will be a generation of graduates, young tradesman and the like then in a position to purchase that type of property.

In 2008 you were competing with a dozen people on each property that hit the market, but could a lesser pool of interested parties appreciate a comparably respectalble sale price? Perhaps. Most of the properties I walked away from were only edged up 1 or 2K too much for my liking, not 5/10K.

People know they need big deposits to buy a house these days, surely some are successfully saving them.

WhiteThierry

kriss_boy wrote: »

People know they need big deposits to buy a house these days, surely some are successfully saving them.

thats exactly what im doing at the mo, i can afford a house now but while the market is going down or even levelling out, the way i see it is that every pound i save is another 2 pounds i dont have to pay off to the banks, so im playing the waiting game at the moment, i dont know how many others are doing the same though because i think over the last 10 years most people have lost the saving mentality, maybe some people are waiting for 95/100% mortgages to return, i dont know, But i think the prediction you make of a mini boom in 12-18 months could be correct, but then theres a million and one scenarios that could be correct!

amcluesent

Britain is a basket-case There's going to be another 1,000,000 on the dole in 12 months time. Every chance of social unrest. And taxes will have to up. And inflation will be going up. And interest rates will be going up. 250,000 fifth-columnist plot and scheme.

Lean, hard years of scrimping and barely getting-by stretch ahead while the idle, criminals and 'seekers' are feather-bedded; as oils runs out, climate change makes a sip of water a luxury. I pity the children.

WhiteThierry

amcluesent wrote: »

Britain is a basket-case There's going to be another 1,000,000 on the dole in 12 months time. Every chance of social unrest. And taxes will have to up. And inflation will be going up. And interest rates will be going up. 250,000 fifth-columnist plot and scheme.

Lean, hard years of scrimping and barely getting-by stretch ahead while the idle, !!!!less and 'seeking' are feather-bedded; as oils runs out, climate change makes a sip of water a luxury. I pity the children.

Someone pass me the rope

Cannon_Fodder

I think a lot of people are saving hard, partly for houses, partly to protect themselves in the event of job loss. If the latter doesn't happen, then they have a ready-made deposit, when the recession unravels, and confidence returns.

To take the "big deposit" element a stage further... It was stated recently that cash buyers now account for 30% of the market, instead of 10%, as used to be the case.

On the reduced overall activity, that means cash buyers are approximately double in number, compared to what they once were...

What happens once the cash runs out? ...a fresh slide in prices is a distinct possibility.

Whether those saving hard can not only counter-balance the disappearance of the cash buyers, but also add sufficiently to activity to create house price inflation, we will have to wait to see...