Re: House Prices - What are the predictions.

I think prices will flatline while it is so hard to get a mortgage, the rental market is doing really well which says everything about how hard it is to get a mortgage right now.

Rates are low, unless you are a first time buyer in which cases you are looking at 6% plus - that is with a 10% deposit if you can find a mortgage offer that offers this.

We have gone from crazy lending to no lending.

Re: House Prices - What are the predictions.

It really depends on where you live. The house prices near me only dipped slightly two years ago, but are worth more than they were three years ago! They seem to be climbing because people want to live around here.

Re: House Prices - What are the predictions.

Its a good time to buy if you can get a mortgage as rates are low and house prices have come down too. It always worth buying your own house if you can so long as you can afford the repayments as it will always be yours. My husband and I had to pay 15% when we took out our first mortgage. I get tired of people saying they can't afford to buy. If you work and save you can do it.

Re: House Prices - What are the predictions.

We paid a little over £400,000 for our place 22 years and 6 days ago today!

Since then the value soared, but over the last five years the value has dropped back though not as much as the 19% being quoted in the press recently.

In MY opinion, and we all know what is said about opinions, they’re like --- well never mind what, but we’ve all got one --- the decline will continue in real terms for some considerable time to come. Especially as the GB standard of living continues to fall, as indeed it should and must.

As for the rental sector, as the cap on handouts comes into place and reduces with time market forces will work to bring down rents.

Governments mess with market forces at their, or rather OUR peril.

Housing “benefit” only had the effect of causing rents to rocket.

Re: House Prices - What are the predictions.

At first glance that seems a lot, though it depends on the type of property and where you live. I capitalised on the lag in Scottish prices being behind those in Hampshire where I used to live. However since moving, the Hampshire prices have stabilised while the prices here rose and then fell back quite sharply.

Currently, there are a lot of houses for sale in the village. Thing is, and I expect that it's the same most places, people can't generally afford to drop the prices lower that they currently are, so the houses will take some time to sell, but I don't think that the prices will come down much more.