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50% house price falls
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doubt it, if the following link is anything to go by.
http://www.epolitix.com/EN/News/200709/ebcfeee2-d2d6-46f0-a216-4c7decdf1344.htm
If he calls an election the papers will start baiting Brown over the EU referendum and house price crashes. Watch the polls slide then.0 -
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Has this recent slow down not been caused by the sudden hikes in interest rates?
Surely the rates wont increase likes those in the 90's i.e. upto mid teens%, as we now have the bank of England to control rates etc. I'm sat on the fence somewhat in this discussion, somewhere along the lines of there being a slow down, but not a crash.
Has anybody considered this factor - With the growth of the housing market in recent years there has been a surge in development, and many new developers making a name for themselves. Surely when you take a look at the sheer volume of new development i.e. increase in supply, there will be a temporary blip in house prices as basic principles of supply and demand dictate.
In Manchester where I live, the local mags and rags are full of new developments, and at a guess I'd say in the city centre region alone there must have been minimum 500-1000 new units released every month for the last few years. But as they run out of space to develop, surely this will have an impact on the balance of supply and demand?
The fact is that with so much scaremongering and speculation about a crash, this in itself is more likely to fuel a crash than anything else.0 -
Which has been highlighted as oversupply in at least one national newspaper IIRC. A number are empty and unlet and several have been repossessed and sold at less than their new price. Where's the demand except from the "last sucker in the room" wannabe BTL entrepreneur?robbythabobby wrote: ».....In Manchester where I live, the local mags and rags are full of new developments, and at a guess I'd say in the city centre region alone there must have been minimum 500-1000 new units released every month for the last few years......A house isn't a home without a cat.
Those are my principles. If you don't like them, I have others.
I have writer's block - I can't begin to tell you about it.
You told me again you preferred handsome men but for me you would make an exception.
It's a recession when your neighbour loses his job; it's a depression when you lose yours.0 -
robbythabobby wrote: »Has this recent slow down not been caused by the sudden hikes in interest rates?..... I'm sat on the fence somewhat in this discussion, somewhere along the lines of there being a slow down, but not a crash....The fact is that with so much scaremongering and speculation about a crash, this in itself is more likely to fuel a crash than anything else.
I'm completely with Robby the Policeman on this !! What he says is exactly what is happening in the UK at moment. A house price crash it is not.0 -
1. You can only decide that there has been a crash in retrospect.bargainbarmy wrote: »I'm completely with Robby the Policeman on this !! What he says is exactly what is happening in the UK at moment. A house price crash it is not.
2. Show me any house price index / measurement / whatever that has "stagnated" or had a "soft landing" when it reversed.A house isn't a home without a cat.
Those are my principles. If you don't like them, I have others.
I have writer's block - I can't begin to tell you about it.
You told me again you preferred handsome men but for me you would make an exception.
It's a recession when your neighbour loses his job; it's a depression when you lose yours.0 -
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Another thing to bear in mind is the second home market.I have just come back from Spain and loads of stuff is up for sale and loads of stuff is sticking.With interest rates rising panic will hit the Spanish market as owners will want out to shore up their mortgages on their UK homes.0
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Good point. Those buyers who MEWed to pay for their "place in the sun" may become desperate to sell to make a payment off their mortgage. Or will they just let the UK place get repossessed and move to Spain full time?Another thing to bear in mind is the second home market.I have just come back from Spain and loads of stuff is up for sale and loads of stuff is sticking.With interest rates rising panic will hit the Spanish market as owners will want out to shore up their mortgages on their UK homes.
A house isn't a home without a cat.
Those are my principles. If you don't like them, I have others.
I have writer's block - I can't begin to tell you about it.
You told me again you preferred handsome men but for me you would make an exception.
It's a recession when your neighbour loses his job; it's a depression when you lose yours.0
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