Do you think that property prices will dramatically fall in the british isles in the next few years???
My opinion is they have to. First time buyers are the foundation of the property market and with so many of them being priced out I believe it's inevitable. What do you think???
2006-08-09 04:46:26 · 7 answers · asked by In The Rat Race 1 in Business & Finance ➔ Renting & Real Estate
ME: I feel for you both, me and my partner are in the same position.
2006-08-09 05:40:42 · update #1
Pole: I'm with you all the way. I just hope your right!
2006-08-09 05:42:13 · update #2
Bill L: I think that with our already overstreched public transport, the Olympic games will only add more stress to commuters! The Gov say they are investing millions to cope with the forcasted passenger increase, but when have they ever met demands in the past.......... I'm sure this will only have a negative effect of property value.
2006-08-09 05:47:33 · update #3
I hope so, im looking to buy a house soon and will never be able to afford it!
I will soon be a qualified architect and my boyfriend already is, but when we are both earning £40,000 each a year we still cant get a mortgage big enough to buy the house we want! Grrrr, people need to stop buying houses for a while and then prices will soon drop!
2006-08-09 04:52:58 · answer #1 · answered by ME 3 · 0⤊ 0⤋
If i had recently taken out a mortgage in the UK i would be concerned to say the least.
House prices are ridiculous and can not be sustained anywhere even close to their present levels.
First timers have no chance of buying, and if they don't nobody sells higher up the chain.
I expected it to happen by the beginning of this year, so i was wrong.
However, The S**t is going to hit the fan very soon.
People have taken on credit way beyond their means.
Personal debt at record levels.
I think that not just the housing market, but the whole UK economy is heading for one major collapse.
Sell now take your equity and spend it in a different country.
I did!
2006-08-09 12:10:32 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I don't think the prices will fall , but they will level out . If they don't ,people will end up with negative equity & that dosen't benefit anyone. The only problem is the Olympic games & what effect that will have on the house prices in London !
2006-08-09 12:15:42 · answer #3 · answered by Bill L 5 · 0⤊ 0⤋
I think so too, but also some mortgage companies are prepared to lend people (not just 1st time buyers) upto 5 times their salary. All it will take is interest rates to rise just a litte, as they are starting to now, and people will not be able to afford the repayments. Lots of people losing houses, lots of extra houses available at lower prices! That's my 2p worth!
2006-08-09 11:53:30 · answer #4 · answered by Montage 2 · 0⤊ 0⤋
i hope so
i'm waiting for the big crash so i can buy a nice house for about 2 grand
2006-08-09 13:41:46 · answer #5 · answered by Super Galactic Spaceman 2 · 0⤊ 0⤋
they'll never fall a decent amount, the best they'll do is stay the same, sucks don't it!?!?!
2006-08-09 11:57:45 · answer #6 · answered by Mickenoss 4 · 0⤊ 0⤋
Don't you mean a rebate.....?
2006-08-09 11:52:18 · answer #7 · answered by Captain Eyewash 5 · 0⤊ 0⤋