house prise rise or crash??

conners_2

who thinks the house prices will rise?
who thinks they will crash?

as a first time buyer dont know what to do sit and wait and hope for a fall or just go for a house now??

zag2me

*Yawn*

People can argue this until they are blue in the face, fact is no-one knows. Some people will say crash, others will say rises.

Im a first time buyer too, and quiete simply going to save a massive deposit and buy a place when I feel comfortable. Then if there is a crash it wont affect me and rises will be nice too.

rizla01

I expect up to a modest 5% rise this year.

No movement till after the election though.

Buy now while you have plenty to choose from. the properties that are worth the most are the ones with a selling feature. I.E. position, Large garden, Good parking,Etc.

pault123

I'm a FTB half way through buying a house, (wish I would have bought 5 years ago when I had a quick look then decided I couldn't afford it) The monthly payments that would have been expensive for me then would have been less than im paying for my rent at the moment!

But know we do need to buy due to eviction from the landlord (he wants to sell the flat) my choices are..

1. Rent again, £450 a month. (been renting for last 5 years at an average of £400 a month; over 5 years ive wasted £24,000 :mad:

2. Move back with parents, and risk waiting another 5 years before I look at buying again. Perhaps there will be some drops in property values, but over a long period ie 5 years they will always be worth more in my opinion. Might not be worth double as it was over the last five years in my area, but its a risk im not willing to take.

3. Buy as I am doing at the moment, waste no more money on rent, as im not planning to move from the house im buying anytime within the next 10 years, good position, large garden, good parking, big enough for the two of us. Any drops in value over 10 years wont bother me in the slighest, im happy with the monthly payments ill be making, and im 99% in 5 years, 10 years house prices overall will have gone up! :beer:


Paul

deemy2004

conners wrote:

who thinks the house prices will rise?
who thinks they will crash?

as a first time buyer dont know what to do sit and wait and hope for a fall or just go for a house now??

Should have asked house price rise or fall....

A crash at this point in time is a low probability.

A bear market of some 10% or so over 3 years is more probable

Pal

CRASH! CRASH! CRASH!

Don't buy now! Wait a year and see what happens! If everyone does it, houses will get much cheaper very rapidly!

dougk_2

SMALL RISE 1 to 5% this year. (January to January).

If you need somewhere to live buy a house - simple!

However, if you can stay living at home (with parents etc) do that as you will be able to save loads!

wibble68_2

Found this little gem today.

The BBA said the figures could indicate the recent slowdown in the UK housing market could be "bottoming out".

This is obviously a very short term view.

I fail to see how a market can bottom out 20 - 30% above the
long term average.

I think this is optimism on the part of banks and estate agents.

dougk_2

The long term average is just that an average.... to get an average you need lower and higher periods....

Perhaps 3 to 5 years of low increases (1 to 5%) will bring it back to average!

Housing in my view has just followed everything else for the last few months (sales generally) - look at the xmas period in terms of low sales of goods and the large number of easter eggs left over!

theGrinch

small rise over next 2 years c 5%pa.

when buying a property, sure you should look at what house prices will do over the next 12-months, but its also important to consider a) how much you want that special house b) how long will you intent to hold on for.

if you find the right house and you intent to hold for many years then I would not be overly fussed with current forecasts - whats more important is the market when you come to sell.

wibble68_2

I agree doug. The low increase strategy is exactly what the BOE wants.

However, interest rates are not set purely to control house price inflation.

I think in the next 3 years we will see a clearer direction for house prices.
At the moment the picture is confusing. Most of the confusion coming from
greedy house owners and estate agents.

The party has to end sometime.