I still live with my folks but am saving for my first house together with my partner.... Only problem is, house prices seem to be rising much faster than we can save! I dont know too much about the property market, but it seems like we've missed the boat, like we'll never get on the property ladder - or we will JUST make it, and then the prices will crash! Anyone have any predicitons or words of advice? Will the market crash, and if so, when?!?
2006-12-19 11:20:19 · 9 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Simple combination really, small island, you can't manufacture land so there is no way land prices will drop( unless Labour really hands over our Green Belt areas and if that happens would you want to live here ?) and land prices are the main cost in building new homes. How about learning some renovation skills and looking for property that needs a lot of work, remember your labour costs nothing.
2006-12-19 13:31:40 · answer #1 · answered by busterdomino 4 · 0⤊ 0⤋
No, house prices very rarely drop, which is probably just as well for people who purchased one at a high price with the maximum mortgage they could obtain.If the prices dropped,a person who did this would be living in a house which cost more than they can sell it for. Which is very bad news for them financially.
2006-12-19 11:33:00 · answer #2 · answered by Social Science Lady 7 · 0⤊ 0⤋
It was a similar situation when i was young. Then the house prices fell a bit and stayed at that level for over 10 years. The pay levels caught up, and then house prices started climbing again.
2006-12-19 22:39:19 · answer #3 · answered by Jomtien C 4 · 0⤊ 0⤋
I hope so for god sake I am sick of paying other peoples mortgages with this extortionate rent £950 - £1100 just to rent a 2 or 3 bed flat
2006-12-19 11:31:46 · answer #4 · answered by C 3 · 0⤊ 0⤋
they have began to creep down a tiny bit. The flat i'm in was a hundred and fifty a week, no longer its in basic terms a hundred and twenty. yet with people no longer able to purchase, there are as quickly as back greater people on the apartment industry.
2016-10-15 06:42:18 · answer #5 · answered by ? 4 · 0⤊ 0⤋
If we all knew that we would be millionaires..............
I think personally it will come down but to the prices it started off.....
Can you not do one of those part buy part rent schemes, i don;t know too much about them but it might give you a little light on the horizon..............
2006-12-19 11:28:02 · answer #6 · answered by xXx Orange Breezer xXx 5 · 0⤊ 0⤋
Well look at it this way, if you cant even keep pace with the 10% deposit you need to buy a house what chance have you got paying a mortgage?
Find a field and get a tent.
2006-12-19 11:32:08 · answer #7 · answered by thecoldvoiceofreason 6 · 0⤊ 3⤋
the only way round it is get a mortgage over 35 yrs
2006-12-19 11:28:02 · answer #8 · answered by dean 3 · 0⤊ 0⤋
Not until the population falls! Too many people, not enough houses.
2006-12-19 11:23:57 · answer #9 · answered by The BudMiester 6 · 0⤊ 0⤋