in 10 years from now will house prices by higher than now

sabretoothtigger

in 10 years from now will prices by higher than now

Yes prices of everything will be higher then now. Are house values going up, not really.

Look at house to rent ratios instead. Or more practical I guess is wage & mortgage interest vs house prices

MrRee_2

Cleaver wrote: »

MrRee, shouldn't you be enjoying your weekend in one of your classic sports cars rather than debating on here?

That's for tomorrow in the sun ...

Going4TheDream

MrRee wrote: »

That's for tomorrow in the sun ...

I thought the sun was always shining in the Home Counties, or is that only metaphorically in relation to high wage rises and quickly selling houses that are rising in value?

macaque_2

King_Of_Bling wrote: »

YES, i'd bet the house on it.

Erm..... house prices are going down.

geneer

chucknorris wrote: »

In nominal terms yes, but are you talking about in real terms? If so I would probably bet that they would 10 years from now, but I wouldn't bet that they would be higher than 2007 prices in real terms 10 years from now.

I agree with nick.

Generali

moneyinmypocket wrote: »

if you had to bet on it?

In nominal terms it's by far the most likely outcome, unless the UK has deflation for a large part of that time. As money becomes worth less, it usually takes more to buy a house, tin of pineapples or bottle of creme de menthe.

Sibley

I think the average house price will be around 220K in 10 years time.

homelessskilledworker

moneyinmypocket wrote: »

if you had to bet on it?

Without a doubt no.

I am not as certain as some on here that we are going to get a hard and fast property crash, even though it is very possible.

I suspect we could get a more long drawn out affair, even a case where prices are only just reaching their bottom by 2022, look at Japan.
I am certain that falls are inevitable one way or another, if the falls were sharp and quick I suspect that when a bottom is reached speculative buying might well kick off again and prices might get close to todays.

If prices fall at a steady slow rate and eventually reach a bottom in years to come I think that prices will remain stable for a long time, a good thing many would argue.

tartanterra

moneyinmypocket wrote: »

if you had to bet on it?

I wouldn't. Despite what many on here believe, the future is almost impossible to predict.

I think some of it depends on how quickly we transit from being an easy credit society, to one where people get back into the habit of saving a large deposit to buy their first home.
Some of it will depend on the recovery of the UK and the wider global economy.
Some of it will depend on the outcome of the Eurozone, America's train smash economy, the rise/fall/stagnation of China and the availability of cheap oil and gas from volatile nations.
But deep down, I believe most of it will rely on events that are yet to happen, and - as we have seen before - the many variables that our illustrious leaders and economists appear unable to foresee (time after time after time).

All in all, interesting times and generally, utterly unpredictable.

homelessskilledworker

tartanterra wrote: »

I wouldn't. Despite what many on here believe, the future is almost impossible to predict.

I think some of it depends on how quickly we transit from being an easy credit society, to one where people get back into the habit of saving a large deposit to buy their first home.
Some of it will depend on the recovery of the UK and the wider global economy.
Some of it will depend on the outcome of the Eurozone, America's train smash economy, the rise/fall/stagnation of China and the availability of cheap oil and gas from volatile nations.
But deep down, I believe most of it will rely on events that are yet to happen, and - as we have seen before - the many variables that our illustrious leaders and economists appear unable to foresee (time after time after time).

All in all, interesting times and generally, utterly unpredictable.

I was going post at some point the very points you have made here, the question is what is likely to bring house pices down?
In my mind and without a doubt it is all going to revolve around the UK economy, and I personally think the UK is in for a long hard restructure(you notice I did not say collapse.

My question to this board was going to be what is it that makes you think prices will fall/rise.
When I look at China, Brazil, India and many other new economies I fear for the UK in it's present state. I look at the Euro, Government spending, even with austerity cuts we are still at suicide levels.

Up until now the UK housing market has stuck to fingers up at the UK economy through manipulation and tricks, but it is impossible to keep that up forever. Wealth comes from the economy, end off, and the biggest asset and sign of a good economy is a nice home.

It's coming