Bad news for homeowners as house prices will not return to pre-recession peak until e

homelessskilledworker

http://www.dailymail.co.uk/news/article-2255765/Bad-news-homeowners-house-prices-return-pre-recession-peak-end-decade.html



House prices in Britain will not return to their pre-recession peak until the end of the decade, making this the longest slump in the property market since records began.
A report by a leading estate agent said the price of the average home peaked at £183,959 in 2007 but has fallen so dramatically it will not return to this level until 2019.
The 12-year recovery period could be the longest since records began in the 1950s.
The report said that once the impact of inflation is stripped out, average prices will not return to 2007 levels until 2031 – an incredible 24 years after they peaked

2010

Here we go again another pointless thread about house prices.
OK so I believe the report and wait to the end of the decade and then sell my house.

What then

---

buy a tent and have £200k in the bank?

ILW

I am a houseowner, but do not see it as bad news.

homelessskilledworker

2010 wrote: »

Here we go again another pointless thread about house prices.
OK so I believe the report and wait to the end of the decade and then sell my house.

What then

---

buy a tent and have £200k in the bank?

You might need to rconsider your choice of MSE board use if you are going to get so emotional, this is the HOUSE PRICES discussion board.

wotsthat

This is a back handed way of saying that prices are going to be rising nominally until 2019 and in real terms "incredibly" until 2031. It's quite good news - buyers can buy without the threat of a crash or being left behind; existing owners gain confidence as nominal prices increase and banks become more secure.

Of course the 'losers' are those waiting for a crash or boom. Not to worry - a lightweight report from an estate agent making predictions today about prices in 2031 has no chance of being anywhere near correct.

homelessskilledworker

ILW wrote: »

I am a houseowner, but do not see it as bad news.

I also think they are way out with their timescale, I would suggest more like in the 20's sometime, and with possibility of real house prices never reaching 2007 levels again.

BertieUK

I think that house prices over the past thirty years did become so unrealistic that it was getting to be silly prices at the end of the day.

Who do you think was to blame for this?

seven-day-weekend

I can't see that it matters that much to the ordinary homeowner (unless they are in negative equity).

If I sell my house and buy another, then I will buy into the same market, so it won't make any difference as the slump will affect the prices of both properties.

2010

homelessskilledworker wrote: »

You might need to rconsider your choice of MSE board use if you are going to get so emotional, this is the HOUSE PRICES discussion board.

Not a question of emotion because this subject has been discussed to exhaustion.
The sooner people realise that houses are for living in and not speculating about the better.

No matter how much your house is worth you still need somewhere to live.
As I said another pointless thread to kick off the new year.

Percy1983

Sounds good to me, not bad news at all.

My house is a home, not a piggy bank.

RevolvingDoor

seven-day-weekend wrote: »

I can't see that it matters that much to the ordinary homeowner (unless they are in negative equity).
If I sell my house and buy another, then I will buy into the same market, so it won't make any difference as the slump will affect the prices of both properties.

I agree with this.