So will the UK house prices ever come down ?

thedoc46

thedoc46

thedoc46

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After a recent visit to the UK, i was absolutely shocked on how high the property prices have gone since i left..

What's the deal out there? What is everyone saying about the interest rate? will it go up and bring the house prices down ?

My folks are starting to get on, and i am contemplating even though it will be a considerable downsize, moving back closer to them.
 
'Will UK house prices ever come down' is such a vague, catch-all question as to be almost meaningless. What about wages, location, debt ratios, risk appetite etc.

A thing going up in price, in isolation, doesn't always make it less affordable nor attractive.
 
Unlikely to go down. The rate at which they will increase will probably go down though once interest rates rise and the demand starts to drop.
 
Interest rates can only go up, the question is when and how much/quickly.
Not sure if it'll bring prices down though.
We seem to be in a loop of people buying more property as prices are going up, thereby pushing prices up and repeat..... Property being seen as a safe investment, which could be right but who really knows.
I bought my house to live in, I hope it does go up in value but it doesn't matter unless/until I want to sell.
 
FoxEye said:
Something like 25% plus over the next five years, last I heard/read.
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Similar figures here. One of my friends whos at a company who specialises in buy-to-let mortagages is living on the breadline intentionally and putting every last bit of what she doesn't need to live into purchasing stocks in the company.
 
I'm wondering the same thing, I will be trying to buy on my own so need a big deposit. I was aiming for 20% deposit on a house about 170k but the way the prices keep rising I'm not sure I can save quick enough.

Think it might be time to speak to someone professionally and see what I can get now and if I could get a mortgage big enough with the deposit I have now.
 
Finners said:
I'm wondering the same thing, I will be trying to buy on my own so need a big deposit. I was aiming for 20% deposit on a house about 170k but the way the prices keep rising I'm not sure I can save quick enough.

Think it might be time to speak to someone professionally and see what I can get now and if I could get a mortgage big enough with the deposit I have now.
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Yup get on the ladder now mate.
 
Finners said:
I'm wondering the same thing, I will be trying to buy on my own so need a big deposit. I was aiming for 20% deposit on a house about 170k but the way the prices keep rising I'm not sure I can save quick enough.

Think it might be time to speak to someone professionally and see what I can get now and if I could get a mortgage big enough with the deposit I have now.
Click to expand...

Im not a proffessional but IMO your best bet is to go to a provider who will give you a 90+% LTV if you want to get on now with what you have and them make as many overpayments as possible until you hit a point of being able to remortgage to a better rate.
 
They have already been down, average 2-4 bed properties round here lost £20k-£60k between 07 and 10 and started going back up over the last 18-24 months. Some have gone up by 20% since early last year. Prices are now back at 07 levels or higher.
 
Doubtful as soon as the prices start to stagnate the ruling gentry and the new rich will ensure the government comes up with even more elaborate ways to saddle people with debt, at the tax payers expense, to maintain their current portfolio value.
 
well I guess we had a big financial crisis recently and housing merely dipped a bit then rose again to current levels.... so I'm not anticipating any huge moves downwards - its not like people can panic sell their own house so easily, when the market goes bad owners just sit tight, you get less sales - mostly from people who *need* to move etc..
 
They've dipped recently but they seem to be bouncing around a good bit. One thing that might drive prices down in the long run a bit is that there seems to be some fairly extensive new property development going on - my town has had over 450 new properties built in the last year or so.
 
Bearing in mind I live in a new build estate which is less than 2 years old, neighbour of mine sold for over 20K + higher than what they paid less than 2 years ago!

House prices seem to be on the rise around here anyway.
 
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