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Debate House Prices


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Why house prices must fall by 28 per cent

245

Comments

  • twadge_face
    twadge_face Posts: 594 Forumite
    chucky wrote: »
    you tried that one last year but you got... wait for it, wait for it, wait for it...

    a double spring bounce... :eek:

    predicting price falls is a fools game...
    You're saying this after proclaiming that posting silliness on this forum is just an alternative form of entertainment to, say, TV. :D
    Long live the faces of t'wunty.
  • Dirk_Rambo
    Dirk_Rambo Posts: 387 Forumite
    tommy75 wrote: »
    prices would have to fall by 28 per cent from their current level to become affordable for first-time buyers.
    .

    theyve already fallen by more than 28 per cent round my way. so if it hasnt happened round your way yet then its only matter of time before it does.
  • twadge_face
    twadge_face Posts: 594 Forumite
    StevieJ wrote: »
    Then again where was the promised crash last time the nights drew in icon7.gif
    Yeah, why bother saying anything? EVER? :D
    Long live the faces of t'wunty.
  • buglawton
    buglawton Posts: 9,246 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    I still think of the moated castle near an underground station next to a capital city that I could buy in Germany for the price of a Thames Valley semi. Or that it requires a couple, each earning £30k plus to even consider buying such a semi. That's just how overpriced UK South-East houses still are.
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    !!!!!!_face wrote: »
    Yeah, why bother saying anything? EVER? :D

    Say what you want but it doesn't make it right icon7.gif
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • System
    System Posts: 178,375 Community Admin
    10,000 Posts Photogenic Name Dropper
    We've officially gone full circle now, we're back to "wait til the winter".
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • IveSeenTheLight
    IveSeenTheLight Posts: 13,322 Forumite
    Dirk_Rambo wrote: »
    theyve already fallen by more than 28 per cent round my way. so if it hasnt happened round your way yet then its only matter of time before it does.

    Factually speaking your area dropped 18.99% from peak to trough.
    the index peaked at 240.1 in Nov 2007 and dropped to 194.5 in June 2009.
    Since then it's risen 10.6% to 215.2 in Mar 2010 and does appear to have dropped in the last two months back to 212 signifying a 1.48% drop in the last two months signifying prices are on average 11.7% below peak.

    http://www.landregistry.gov.uk/

    74862243.png
    :wall:
    What we've got here is....... failure to communicate.
    Some men you just can't reach.
    :wall:
  • Dirk_Rambo
    Dirk_Rambo Posts: 387 Forumite
    you dont know where i live mr stalker. youve even been in west brom on the prowl and you didnt find me there. so keep trying.
    good luck all the same.
  • IveSeenTheLight
    IveSeenTheLight Posts: 13,322 Forumite
    Dirk_Rambo wrote: »
    you dont know where i live mr stalker. youve even been in west brom on the prowl and you didnt find me there. so keep trying.
    good luck all the same.

    ;)Another poster who cannot provide facts
    Originally Posted by IveSeenTheLight viewpost.gif
    Feel free to give me a shout should you wish to discuss factual things instead of made up things
    :wall:
    What we've got here is....... failure to communicate.
    Some men you just can't reach.
    :wall:
  • RenovationMan
    RenovationMan Posts: 4,227 Forumite
    Do we have details on what the average house actually looks like? If it's a 1 bed apartment/house then I think the market is in real trouble! If, on the other hand, its a three bed semi then I dont understand why this would impact first time buyers. I certainly didn't buy a three bedder for my first home - though had interest rates been as low as they are now, then perhaps I would have? ;):)

    I guess my question is, why is this report comparing the cost of an average house to the income of first time buyers, when the average ftb would not be buying the average house? I hope my question makes sense to someone, I think I have too many occurances of the word average! :)
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