market predictions.....

anselld

Crashy_Time wrote: »

It wasn`t a question, it was a statement, and will definitely affect house buying renting and selling.

I was referring to the OP, but it applies equally to the answers.

Crashy_Time

anselld wrote: »

I was referring to the OP, but it applies equally to the answers.

Is there something in the OP that offends you? :rotfl:

AndyBSG

Luke_123 wrote: »

prices are imo ridiculous and can't keep increasing surely?

Prices will carry on climbing until supply outstrips demand, which won't happen until we start building more houses than are needed for the growing population.

Until then all that will happen is that prices will rise and those who are wealthy enough to afford them will continue to outbid those struggling to even get enough to pay the smallest deposit so home ownership will end up becoming something for just for the affluent or those inheriting.

Crashy_Time

AndyBSG wrote: »

Prices will carry on climbing until supply outstrips demand, which won't happen until we start building more houses than are needed for the growing population.

Until then all that will happen is that prices will rise and those who are wealthy enough to afford them will continue to outbid those struggling to even get enough to pay the smallest deposit so home ownership will end up becoming something for just for the affluent or those inheriting.

Computer says no.....:rotfl:


http://www.bloomberg.com/news/articles/2016-10-12/london-home-presales-slump-14-as-brexit-compounds-tax-woes

bobbymotors

Philuk wrote: »

I don't understand why people keep mentioning this "we re an island" argument. Do you think that France invading his neighbours a valid option? All country have finite space.


And even if we consider the space issue, Canada and Australia have 4 cities in the top 10 most expensive market in the world despite a shed load of perfectly fine space, while Tokyo and Japan experienced a -60% crash in the 90s they never recovered from despite having possibly half the space the UK has. You will find home and infrastructure only occupy a very small percentage (<10%) of the available land in the UK...

The difference with us is that we are a small country yet lots of people want to live here.

all countries do indeed have finite space, but Florida for example is approx the same size as the uk but has 8 million or so residents whilst we have 60 odd million.

Which means that if you buy a house in florida it will not go up in value very much because as soon as the demand is there they have the space to build some more houses.

and france is twice the size of the uk with a similar population. They have the space...hence house price falls / stagnation.

And we don't - well not in parts where people want to live anyway.

so, no crash just yet, not while money is so cheap.

Crashy_Time

bobbymotors wrote: »

The difference with us is that we are a small country yet lots of people want to live here.

all countries do indeed have finite space, but Florida for example is approx the same size as the uk but has 8 million or so residents whilst we have 60 odd million.

Which means that if you buy a house in florida it will not go up in value very much because as soon as the demand is there they have the space to build some more houses.

and france is twice the size of the uk with a similar population. They have the space...hence house price falls / stagnation.

And we don't - well not in parts where people want to live anyway.

so, no crash just yet, not while money is so cheap.

http://www.bloomberg.com/news/articles/2016-10-12/london-home-presales-slump-14-as-brexit-compounds-tax-woes

Philuk

bobbymotors wrote: »

The difference with us is that we are a small country yet lots of people want to live here.

all countries do indeed have finite space, but Florida for example is approx the same size as the uk but has 8 million or so residents whilst we have 60 odd million.

Which means that if you buy a house in florida it will not go up in value very much because as soon as the demand is there they have the space to build some more houses.

and france is twice the size of the uk with a similar population. They have the space...hence house price falls / stagnation.

And we don't - well not in parts where people want to live anyway.

so, no crash just yet, not while money is so cheap.

Sorry but your population density argument is vastly overplayed/ over simplistic, it s merely a fraction of the price equation, I mentioned Canada and Australia, but I could also name Singapore.

France have very accommodating law surrounding tenancy, and yes, do build about twice the amount of houses than UK manage to achieve.

But the major difference is that our successive government used the HPI as a electoral weapon, there was never so few houses built than under the Cameron government, while this same gov launched the help to buy and other tax funded initiative to prop the market. With the change of demography will come a softer approach to HPI. And then, the argument of space and supply will suddenly lose its momentum.

itchyfeet123

bobbymotors wrote: »

The difference with us is that we are a small country yet lots of people want to live here.

all countries do indeed have finite space, but Florida for example is approx the same size as the uk but has 8 million or so residents whilst we have 60 odd million.

Which means that if you buy a house in florida it will not go up in value very much because as soon as the demand is there they have the space to build some more houses.

and france is twice the size of the uk with a similar population. They have the space...hence house price falls / stagnation.

And we don't - well not in parts where people want to live anyway.

so, no crash just yet, not while money is so cheap.

Actually Florida has about 20m people.

A better comparison might be New Zealand. Approximately same land area, 4.5 m people. So a tonne of space. But Auckland's housing crisis is worse than London's, if you can believe it -- 15.9% average increase in the last year and the average Auckland home more expensive than the average London home (admittedly the latter is not a great comparison given single family homes are the norm in NZ).

All of that is to say population density isn't the problem.

kilby_007

Prices in East Yorkshire where I am have fallen 3.9% in the 3rd quarter, so I'll be holding out for the next report to see if that trend is continuing...

Bonfire_Bride

We've just sold our house for less than we paid for it in early 2008 (when the markets crashed)

The house we bought has only increased by 10k in the last 11 years. Doesn't sound like much of a bubble to me.