2006-09-18 06:25:06 · 8 answers · asked by mikeraffone 1 in Business & Finance ➔ Renting & Real Estate
If i knew that i'd be rich, RICH I TELLS YA!!!!
2006-09-18 06:29:20 · answer #1 · answered by Andromeda Newton™ 7 · 0⤊ 0⤋
Apparently house prices are set to keep rising. Only a rise in the interest rates from the bank of england would cause prices to freeze or fall right now. I think the actual % rise depends on the area and type of property. Second homes are particularly popular at the moment so rural areas will obviously see some rises especially!
2006-09-18 13:30:23 · answer #2 · answered by AngelWings 3 · 0⤊ 0⤋
Prices will continue to rise for the forseeable future. House prices are not rising as a result of increases in income or low interest rates. They are rising because demand outstrips supply by a very large margin. The supply problem cannot be addressed in the short term, so prices will continue to rise. The bank of England can't do very much to stop the rise, as raising interest rates will affect the whole economy adversly.
As to how much they will go up by, depends on the region, but on average, I think between 6% and 10% annually.
2006-09-18 14:56:08 · answer #3 · answered by joechuksy 3 · 0⤊ 0⤋
They are gonna rise forever. I can´t see them ever falling.
I did receive a interesting fact today. There is now a mortgage out there in the financial world which last forever. With the price of property constantly rising you can now get a mortgage to match. Even when you die you can leave the mortgage to your family and they can carry on paying it. It is ideal if you have already paid your mortgage off because you can borrow against the capital and raise funds for whatever you want.
2006-09-18 13:36:29 · answer #4 · answered by Northernbloke 3 · 0⤊ 0⤋
Maybe a bit but don't count on it. Also please understand that the UK housing market is full of deals done between buyers & sellers for a mutually agreed price that is not just set by "the market" in contrast to stocks & shares.
2006-09-18 16:13:41 · answer #5 · answered by Frank M 3 · 0⤊ 0⤋
Not much in the south or london but if your in the right place up north you may make some profit.
2006-09-18 13:33:00 · answer #6 · answered by Jabba_da_hut_07 4 · 0⤊ 0⤋
hope not im waiting for the interest rates to go up so loads of people lose there houses and the house market crashes this would benefit me lol.
2006-09-18 13:29:41 · answer #7 · answered by Anonymous · 1⤊ 0⤋
most estimates suggest modest increases, probably in line with earnings. 4-5% per year, maybe.
Very few people think there will be a crash.
2006-09-18 14:22:08 · answer #8 · answered by bernard 1 · 0⤊ 0⤋