At what figure do YOU think the average house price will hit rock bottom ?

Dan:_4

nearlynew wrote: »

Average price will revert to the long time average of about
3.5 times average wage in any given area.

Either wages rise or prices fall, but eventually they will converge on this figure.

Oh God.....back to this sh!te again. :rolleyes:

Kev09

nearlynew wrote: »

Average price will revert to the long time average of about
3.5 times average wage in any given area.

Either wages rise or prices fall, but eventually they will converge on this figure.

I have been off the forum for a few months back on for the first time tonight and back to this complete and utter nonsense theory I remember arguing that wages can/must/HAVE TO BE be linked to house prices!

LittleMissAspie

...£135k...

Thrugelmir

Kev09 wrote: »

I have been off the forum for a few months back on for the first time tonight and back to this complete and utter nonsense theory I remember arguing that wages can/must/HAVE TO BE be linked to house prices!

Enlighten me as to an alternative basis of approximate valuation. While not precisely accurate its a good measure of affordability and therefore prices.

Pobby

100,000 euro!

Graham_Devon

kabayiri wrote: »

Yeah, in some parts of N.E / N.W you will get BOGOF offers, and even 3 for a tenner.

:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:

As for my prediction. I simply do not know. The government are pulling so many strings at the moment that we could have already hit this bottom, and then another slide in a couple of years or so.

I always thought, at the start of all this (when rates were still 5.5%, we didnt have banks bailed out and didnt have QE) around 115k which would have been 40% off peak, but as I say, that was at the start and didn't have any ida the government would get as desperate as they have....and neither, if people are honest, did anyone else....I certainly didnt see anyone predicting 0.5% rates, lowest i saw predicted was 3%, and I predicted 2% on here myself over a year ago.

We seem to be stuck at the moment. Those with high deposits can buy, those generally moving from oe house to the next can buy. But the average FTB is still priced out, and they now have a double whammy of non attenable mortgages.

We cannnot continue with a housing market only open to those already with equity and the rich, just moving around. It's keeping it going for now, but at some point, we will need FTB's to be able to enter the market.

That will either be done via high mortgage lending again, or lower house prices. At least, thats what would have to happen now....god knows how the government might get them buying soon.

Nylontokyo

ad9898 wrote: »

the government who a pumping billions (borrowed billions at that) into trying to re inflate the bubble.

QUOTE]


Has this ever happened in history EVER? How can you reinflate a bubble that has burst?

So my prediction at the real bottom average national price 100K.

tommy75

Can we not do an end of the world guess thread instead?

tommy75

128,438 and 3501 :T

BleepinHell

mcc100 wrote: »

There are lots of predictions regarding future house prices on this site and no doubt in the future many so called experts will be saying that that predicted house price movements.

So, I have started this thread for predictions as to what you think will be the lowest figure (using Land Registry data) that the average house price in England and Wales will fall to. It will be interesting in future months and years to look back at predictions and compare them with reality.

I'll kick off the thread with my prediction of £98700

Just watched a prog on ITV about property in Spain.
Interest rates there doubled.
When interest rates go up as they will massively. We ill see a dramatic fall in prices. I would say 40% of 2007 prices. If unemployment rises even more then Who knows maybe 50%