price crash and value

OldNelly

zag2me wrote:

If prices keep going up at their current rate of 1% a month, thats 12% this year again. Now if property drops 25% in 2 years time, then they will only go down to the same price they are at today

Thats my random calculation for the day

NONSENSE! that doesn't add up

Say a property was worth 100k at the start of the year, it would be worth 112k at the end of december.

If it fell by 25% it would be worth 84k (112x0.75) that is a lot less than it was worth at the start of this year.

meanmachine_2

Oh now stop it.

Zag2me is a homeowner - he's obviously smarter than the rest of us.

If he says 2+2 = house prices only ever go up, then that's fine by me.

roswell

The great old debate well

http://news.bbc.co.uk/1/hi/business/4895168.stm

average house value has dropped from £185,404 to £183,224. between january and february.

if the average value falls it must means all property value has fallen

irnbru_2

roswell wrote:

if the average value falls it must means all property value has fallen

Not quite right!

BobProperty

Woby_Tide wrote:

near future? good grief, this forum gets more like Doctor Who, we've had this topic every week since 2004, the answer is no-one knows, somewhere between 100% and -100% at some point in the future(and the past)

Good of you to narrow it down. I also predict a member of the House of Lords will die in the next few years and it will rain or go dark before midnight tonight.:D