So will the UK house prices ever come down ?

The best bit about an OP asking about what for most people will be one of the biggest buying decisions in their life, is that there are all of us giving him subjective opinions.

I wouldn't listen to a word written here, OP, including this post. Although, if I could offer you only one tip for the future, sunscreen would be it.
 
I've made a few K (vs local properties of equivalence and even the same floor plan at current values) having completed last month, and offer accepted back in March. Hopefully it carries on ;-)
 
The economy cant support high house prices, its going to end pretty badly, so far the government has been supporting the housing market with ridiculous policies. The state can only influence the housing market for a short period of time, the market will collapse and that the economy with it. Wages can not support high house prices money will be diverted away from the economy into mortgages, this is a disaster for the young generation, they been loading them up with debt yet wages have not moved, rents continue to rise pushing many to get help via housing benefits.Between 1947 -1979 we used to build between 250k to 300k homes a year the majority of those for the state, these days we build less than 100k homes a year, and over last 10 years we build 20k social housing shocking.

Only 7% of land in the Uk has been built on which is shocking, they are out for themselves, the whole system has been exploited and destroyed by polices that are one sided.
Whats really disgusting is IHT on property has not kept up with property prices, if this continuous the state will take a large percentage of IHT from properties that once would never fall in the 40% bracket.
 
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Heh.....

£900 for a ****** crap 1 bedroom in a **** crap Romford..

I use to pay 500/800 for a 2 Bedroom flat In London which was very spacious in a nice area. That same place would be over £1000 now and there is no real reason for it other then lol London.

This was not but 2 or so years ago.

I need to move back towards london due to better job prospects and it just looks absolutely horrific.

A 1 Bedroom Flatshare all inclusive of bills is minimum in good zones for travel to where I would be working £550-650.

In the heart of Ipswich I rent a really big 2 bedroom apartment with huge rooms and its on the Marina looking over the docks.

I pay £650 for this and in london I would about get a single/double room in a **** area.

Absolutely ridiculous.

I am only 24 now and it just looks like 1 Ill never be able to really be able to buy long term maybe not even for investment in the short term at the moment.

I have no family to help me no one to support me with a deposit so I just have to hard grind to even get back into london to rent..

Commuting from Ipswich to London is just not a manageable situation.

It really is quite depressing but gotta keep on trucking on.
 
Allnamestaken said:
Heh.....

£900 for a ****** crap 1 bedroom in a **** crap Romford..

I use to pay 500/800 for a 2 Bedroom flat In London which was very spacious in a nice area. That same place would be over £1000 now and there is no real reason for it other then lol London.

This was not but 2 or so years ago.

I need to move back towards london due to better job prospects and it just looks absolutely horrific.

A 1 Bedroom Flatshare all inclusive of bills is minimum in good zones for travel to where I would be working £550-650.

In the heart of Ipswich I rent a really big 2 bedroom apartment with huge rooms and its on the Marina looking over the docks.

I pay £650 for this and in london I would about get a single/double room in a **** area.

Absolutely ridiculous.

I am only 24 now and it just looks like 1 Ill never be able to really be able to buy long term maybe not even for investment in the short term at the moment.

I have no family to help me no one to support me with a deposit so I just have to hard grind to even get back into london to rent..

Commuting from Ipswich to London is just not a manageable situation.

It really is quite depressing but gotta keep on trucking on.
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Use your vote and don't vote for lib con lab its simple. Your being shafted by a system that has been gradually designed to enrich the minority, and make you work longer pay more taxes.
when you hear about the older generation take about the young spending their money on Ipods replay back and say well you guys used to pay for CD players cds etc... on top of that they had less taxes with miras to help couples buy their homes, and lower wage to price ratios for houses, free education, free dentistry, early retirement etc...
 
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matdom said:
Use your vote and don't vote for lib con lab its simple. Your being shafted by a system that has been gradually designed to enrich the minority, and make you work longer pay more taxes.
when you hear about the older generation take about the young spending their money on Ipods replay back and say well you guys used to pay for CD players cds etc... on top of that they had less taxes with miras to help couples buy their homes, and lower wage to price ratios for houses, free education, free dentistry, early retirement etc...
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I have no idea what this is supposed to mean but it's pretty funny.
 
just wait until people can take their pension money out instead of buying an annuity, just imagine how many will put that into buy to let :eek:
 
Over time house prices will continue to rise. They may temporarily and marginally dip below today's prices. When is difficult to say.

As stated before - house prices are holy moly!
 
[FnG]magnolia;26781494 said:
I'm imagining a world where housepricecrash.co.uk has some kind of fight with mumsnet and by God it is glorious.

I would watch this film.
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Yup.
The only way houseprices will crash is if labour win the election, and even in that situation, it is unlikely that mr ed balls can make as good a mess of the economy as labour managed last time.
I actually doubt even he is capable of such a monstrously poor governance.
Yes he can cost us a million pounds by ignoring employment law to sack some woman nooone had heard off until the press told us her name, but when put in charge of the entire economy, that resilent beast will be able to shake off his attempts to murder it, through strangulation with regulation, stabbing it with retarded policies, and indeed poisoning it with 'we know best' interventions.

House prices with not go down in Actual values until a mass reset occurs again, and we've only just had the post TonyGordy reset.
 
C64 said:
It's not really profit if a new equivalent place costs more or the same.
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That's how I've looked at it too.

Unless you have a 2nd+ property its not profit, its just treading water as you move up the chain.

The property market needs a shake up but seeing that Brits take bricks and mortar as one of the most holy of investments available it wont get "shook" because practically anyone wealthy or with political power has money tied up in them.
 
In recent years house prices have been driven up by foreign invesyers from the far east speculating on the London property market often they will buy a property with cash and leave it empty. This has meant the local population has been foced into buying houses further away from the capital which in turn has pushed up prices in the surrounding counties.

Although prices have gone up a lot on London easterm investor's are only in the market for short term gain as London is in a housing bubble which will eventually pop and leave a lot folk in negative equity. It happens every time (gold, ftse, dot com etc). Once the bubble in London bursts in a few years time and the influence of foreign money is removed we will then see a price correction around the country.
 
Personally, at 26 I don't see myself being able to buy property in London any time soon. Even with 50k of savings and investments I simply don't earn enough in order to get a mortgage on a small one bed 200k property. House price rises will likely beat any pay rise I receive in the coming years so the future looks bleak.
 
Xordium said:
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.
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Whereas in reality when house prices stagnate (or fall) house builders stop building which increases demand and therefore breaks the stagnation cycle...this is what happened during the recession.
 
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