Prices to fall as "irrational" rally ends

Graham_Devon

House prices will fall 7% in 2010 once the current 'unsustainable' revival ends, a leading property consultancy has forecast.

The bounce in the market that has seen prices rise by 8.4% since February, on the Nationwide measure, will fall away towards the end of the year, says James Thomas, head of the residential department at Jones Lang LaSalle.


The 'seemingly irrational' rise in prices is likely to prove only temporary, according to Thomas, who said a double-dip W-shaped outlook for the market is likely.

He said: 'The unforeseen and seemingly irrational pick-up in prices has altered the outlook for UK house prices but it is likely that this recovery will prove temporary.

http://www.thisismoney.co.uk/mortgages-and-homes/house-prices/article.html?in_article_id=490604&in_page_id=57&expand=true#StartComments
Only time will tell I guess, but this is the side of the fence I'm most certainly sitting on.

StevieJ

I must say when I see turkeys forecasting Christmas and smiling I wonder what is in it for them

Dan:_4

Graham_Devon wrote: »

http://www.thisismoney.co.uk/mortgages-and-homes/house-prices/article.html?in_article_id=490604&in_page_id=57&expand=true#StartComments
Only time will tell I guess, but this is the side of the fence I'm most certainly sitting on.

If this comes true, it will give the FTB'ers another chance to buy at the feb 09 bottom.

Don't miss out....again.

mewbie_2

StevieJ wrote: »

I must say when I see turkeys forecasting Christmas and smiling I wonder what is in it for them

One thing that is in it for me is the chance to shut some of you lot up for a while. Although I think that even if a nuclear holocaust struck the UK you would still be finding positives.

chucky

mewbie wrote: »

One thing that is in it for me is the chance to shut some of you lot up for a while. Although I think that even if a nuclear holocaust struck the UK you would still be finding positives.

you're my positive mewbie in a negative kind of way of course

IveSeenTheLight

mewbie wrote: »

One thing that is in it for me is the chance to shut some of you lot up for a while. Although I think that even if a nuclear holocaust struck the UK you would still be finding positives.

But we've been saying for a long time that there will be drops, possibly back to Feb 08 Nationwide prices.

As the Nationwide is up over 8.4% so far, it would seem that these experts don't think they will go back to Feb 08 Nationwide prices

JonnyBravo

Graham_Devon wrote: »

Only time will tell I guess, but this is the side of the fence I'm most certainly sitting on.

We know. But then you've always been on that side of the fence and probably always will be. Indeed you were on that side laughing at all chance of a rally in the first place.

mewbie wrote: »

One thing that is in it for me is the chance to shut some of you lot up for a while. Although I think that even if a nuclear holocaust struck the UK you would still be finding positives.

God forbid you were ever stuck in a Groundhog day Mr Sunshine :rolleyes:

chucky

IveSeenTheLight wrote: »

But we've been saying for a long time that there will be drops, possibly back to Feb 08 Nationwide prices.

As the Nationwide is up over 8.4% so far, it would seem that these experts don't think they will go back to Feb 08 Nationwide prices

which means that you will have paid more for a house in 2010 than you would have done in 2009 plus the rent and losing that opportunity to pay down a cheaper mortgage

ManAtHome

mewbie wrote: »

Although I think that even if a nuclear holocaust struck the UK you would still be finding positives.

Funny you should say that...

A GLOBAL nuclear war followed by a new dark age of terror and despair could further depress the UK housing market, according to the Halifax.

"However, there will be some great bargains for anyone with a few iodine pills, a radiation suit and a flamethrower. So it's not all doom and gloom."

http://www.thedailymash.co.uk/news/society/nuclear-holocaust-could-knock-30%25-off-house-prices-200905281788/

Cleaver

mewbie wrote: »

One thing that is in it for me is the chance to shut some of you lot up for a while. Although I think that even if a nuclear holocaust struck the UK you would still be finding positives.

You'd see a huge increase in the share price of cockroach-based companies.

PasturesNew

mewbie wrote: »

you would still be finding positives.

Great news - free heating for the elderly!