House prices in 2017 !!

illgetthere

i vote for no change by 2017.. good luck

macaque_2

HAMISH_MCTAVISH wrote: »

We'd need to know the rough area and property type to give you an informed opinion.

Performance of a 2 bed flat in Leeds will be very different to a detached house in Mayfair.

We need to know the property type and location, and then we will tell the future.

purch

We need to know the property type and location, and then we will tell the future

I managed to give a hugely accurate prediction, without those facts.

DaddyBear

Roughly the same as it is now in nominal terms, much less in real terms. House prices are going nowhere fast.

nicko33

257378 wrote: »

but what will it be in 2017.

nobody knows.
Assume it will be the same as it is now, and deal with the difference in 2017.

HAMISH_MCTAVISH

257378 wrote: »

The house is 3 bed Semi detached with a 100ft garden in Hatfield, Herts

Current value around £230,000 - £245,000

OK....

So not a 2 bed flat in a northern city with a massive oversupply, and not a prime property in central London.

A reasonable property of slightly above average characteristics in the South East of England, within the commuter belt for London.

The majority of mainstream institutional forecasts would suggest HPI of between 3% and 5% per year from 2012 through to 2017.

So somewhere around 20% higher than it is today.

I'd suggest that's conservative though.... The rate of HPI will be accelerating significantly towards the end in the South East as the crash severely impacted housebuilding and the shortage is worsening.

If I had to guess, I'd say for that type of house in that location you're talking more like 35% up by 2017.

So somewhere around £320,000.

Generali

257378 wrote: »

Hi All,
Can anyone help me ?? .... I am trying to estimate what my house price will worth in 2017. the reason is due to an ongoing divorce "battle" which our house is part of
I am currently a joint owner on a mortgage with my ex wife .. there is around £30,000 equity on the property currently but what will it be in 2017.

The house is 3 bed Semi detached with a 100ft garden in Hatfield, Herts
Current value around £230,000 - £245,000

Any help would be greatly received

Many Thanks

257378

On average house prices have risen with wages in the very long term. Real wages on average rise by about 2.5-3%pa and then you need to add inflation to that so 5.5-7%pa would be reasonable.

That would give a range of nominal values ranging from £315,000 to £365,000 at the end of 2017, in slightly under 7 years time.

Whether or not that will happen is a different matter as that is based on an average. In reality, average nominal prices have gone up by 30% in some years and fallen by 20% in others. The calculation also takes no account of the cost of owning the house for 6 years.

AndyGuil

Without lending like before the house prices are going no where. 2017 is 6 years in future. Most of the FTBs that now need a deposit to get a house will need longer than that to save.

ukcarper

It’s been about 4 years from the peak and if you look at the 90 crash adjusted for inflation house prices were about the same 4 and 10 years after the peak. So I would have thought a good a guess as any is that they will be about the same in real terms.

geneer

HAMISH_MCTAVISH wrote: »

OK....

So not a 2 bed flat in a northern city with a massive oversupply, and not a prime property in central London.

A reasonable property of slightly above average characteristics in the South East of England, within the commuter belt for London.

The majority of mainstream institutional forecasts would suggest HPI of between 3% and 5% per year from 2012 through to 2017.

So somewhere around 20% higher than it is today.

I'd suggest that's conservative though.... The rate of HPI will be accelerating significantly towards the end in the South East as the crash severely impacted housebuilding and the shortage is worsening.

If I had to guess, I'd say for that type of house in that location you're talking more like 35% up by 2017.

So somewhere around £320,000.

Is this a prediction coming from Hamish "House prices won't crash" Mctavish?

Take advice with a pinch of salt I think. http://www.google.co.uk/imgres?imgurl=http://www.arrakis.nl/images/VietnamSaltMountain.jpg&imgrefurl=http://www.arrakis.nl/index.php%3Fparent%3DWind_energy%26page%3DAT_-_Affordable_Technologies&usg=__0JRnc6GJyZncRHqqpU8GkqIaLxM=&h=600&w=800&sz=81&hl=en&start=20&zoom=1&tbnid=AeBkaMyyxNRs7M:&tbnh=156&tbnw=177&ei=S9h0TZqwDIio8QO4sZnFCA&prev=/images%3Fq%3Dsalt%2Bmountian%26hl%3Den%26biw%3D1276%26bih%3D823%26gbv%3D2%26tbs%3Disch:1&itbs=1&iact=hc&vpx=282&vpy=459&dur=2093&hovh=194&hovw=259&tx=114&ty=99&oei=Q9h0Tf7uMc2ZhQfilbBH&page=2&ndsp=22&ved=1t:429,r:12,s:20