Has the market peaked?

ka7e

Prices in many areas in the South West are still rising. In Somerset, 5000 workers have to be housed for the Hinkley Point C construction and then A decommissioning. At least 2 thirds are (possibly) buying or looking for rental property. Houses are selling in days, supply is low and so prices are creeping up.

mysterymurdoch

juniordoc wrote: »

No prices may well be higher in 11 years but i think in the short term they have peaked. The supply of buyers with parents who can gift a deposit or accomodate their adult children is also limited.

There are a lot of buyers out there with means. And houses near me are being snapped up in days as always. Don't kid yourself on that prices are about to drop. If you're thinking of buying a house do it sooner rather than later because it'll get more, and more, and more expensive for you.

VfM4meplse

Thanks all.

jimbog wrote: »

Wrong forum. Try here:
http://forums.moneysavingexpert.com/forumdisplay.php?f=149

silvercar / fermi / nile - please move the thread to the debate board.

robatwork

Wrong forum but anyway.... you need to define "peaked". If you mean in 40 years will a given house be the same or cheaper than now even in real terms, the answer is almost without exception "no".

In 4 years or 4 months? Could well have stagnated or gone down in certain areas.

So way too many variables to even do something rudimentary.

If you give some variables like:
Where within 20 miles are you talking about?
Town centre or rural or suburb?
What timescale are you giving for predictions?
What value house or at least what type of property are you looking at?
New build, otherwise age of property?
Condition of property?
Area subject to subsidence or other issues (eg. airport development)
Conservation area?

And that's for starters

LdnFtB

MobileSaver wrote: »

Do you genuinely believe in your heart of hearts that house prices will be lower in 11 years time than they are today?

Adjusted for infusion, house prices took thirteen years to recover from the 1989 crash.

SuzieSue

juniordoc wrote: »

Whilst salaries are stagnant, how can prices go up? Income multiples are the highest on record, and lenders are getting stricter, not more liberal.
.

Bank of Mum and Dad (or Grandparents)

MobileSaver

LdnFtB wrote: »

Adjusted for infusion, house prices took thirteen years to recover from the 1989 crash.

How many people would be prepared to sell their house in 11 or 13 years time at a price "adjusted for infusion"? I would hazard the answer is none which rather makes your comment pointless...

LdnFtB

You're missing the point. You asked if prices wouldn't be higher in 11 years, I showed a period in which values hadn't risen in 13. I'm not making any comment on people's desires but refuting your assertation that house valuess always increase over a period of a decade or so with an example of a historical period where this was not the case.

MobileSaver

LdnFtB wrote: »

You're missing the point. You asked if prices wouldn't be higher in 11 years, I showed a period in which values hadn't risen in 13. I'm ... refuting your assertation that house values always increase

Er, just no, I made no such assertion. You have changed "price" to "value" because that obviously fits your HPC agenda...

LdnFtB

I changed prices to value as value is clearly the issue at stake and forgetting inflation is a massive mistake when investing. Pardon me but I'm weighing up making the biggest purchase of my life so far as are others I know and I think people sound know as much as possible before making up their minds. I don't get what an HPC is.