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US Property is falling in value (year on year rather than on a monthly basis) is this likely to occur in Britain also?

2006-09-26 23:58:13 · 4 answers · asked by LongJohns 7 in Business & Finance Other - Business & Finance

4 answers

i would say it has to. Think of all those buy to let investors that are saturating the market, they watch all of that property porn on TV and think it's an easy way of making money. The only problem is that the average house price is now £180,000 and the average income just £15,000 first time buyers are been priced out of the market which means people further up the property ladder can't sell their houses and move on. As the wages to house price ratio increases the fewer people who are in a position to purchase a home the more likely we are to have a property crash. I would say within the next five years especially as student debt has increased along side personal borrowing.

2006-09-27 00:05:31 · answer #1 · answered by Heather 5 · 2 0

Britain properties are different from US properties. UK properties have heritage values, but US properties are technologically valuable. Technological updation leads to loss of value of US property and it will not happened to UK because the UK Queens citizens are enlightened conservatists.

2006-09-27 00:01:45 · answer #2 · answered by Devaraj A 4 · 0 0

probably not as the UK economy is on the whole a lot stronger the the US, in fact most economists predict that UK house prices are set to increase at a steady rate over the next couple of years at least.

2006-09-27 02:24:14 · answer #3 · answered by Bindesh M 2 · 0 0

Yeah what Heather said.

2006-09-27 00:09:51 · answer #4 · answered by Mike 3 · 0 0

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