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Debate House Prices
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House prices could slide by as much as 30% between now and 2013
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Doctor_Gloom wrote: »Yes, Neil Woodford is a very respected man unlike the nobody (called nademe wally or whatever) whose opinion Hamish dug up the other day. It looks like it's downhill all the way now for house prices.
I thought Hamish was the nobody.
btw why are windup merchants peddling propaganda still allowed to post on this board?0 -
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Lucky that there aren't more people coming to this country looking for homes and the population is declining therefore reducing demand for homes. Oh wait...0
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Doctor_Gloom wrote: »Yes, Neil Woodford is a very respected man unlike the nobody (called nademe wally or whatever) whose opinion Hamish dug up the other day. It looks like it's downhill all the way now for house prices.
Erm, maybe in the North of the country where the civil service will take a big hit, but in my part of the country (Henley) the average house price is still £550,000.0 -
If inflation is at 5% (RPI pretty much is) and house prices remain stagnant ... then over the next 3 years... (roughly)
its pretty reasonable to assume real 5% falls per annum with stagnant prices. There is not going to be a rush for the door, as no matter what happens to prices, there are those waiting to bag a bargain, there are those that just want to own at all costs, and there are those who are just quite happy where they live regardless of the value as they need to exist.
15% over the next 3 years, is pretty reasonable + or - 10% either side of that prediction is where I am thinking its going to be, and thinking its pretty reasonable.
I think inlation will play a bigger part in all this, more so than interest rates, and I dont think the BOE will be controlling inlation so much as SAVING the economy from disaster.Plan
1) Get most competitive Lifetime Mortgage (Done)
2) Make healthy savings, spend wisely (Doing)
3) Ensure healthy pension fund - (Doing)
4) Ensure house is nice, suitable, safe, and located - (Done)
5) Keep everyone happy, healthy and entertained (Done, Doing, Going to do)0
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