Friday, Dec 07, 2007
So what is the consensus on average house prices three years’ hence? Somewhere below £190,000. Want to bet?
FT: House pricing: To go up or go down, that is the question
"But what is equally noteworthy is that the “several hundred” IG clients who bet on house prices are on average expecting London prices to fall by 3 per cent over the next six months. The Halifax monthly survey, which gives only a single national average figure, without regional break-downs, suggests they may be right. Halifax recorded a national average house price down 0.5 per cent in October, relative to September, to £197,248." BTLETTER CAVEAT
Posted by confused76 @ 10:55 AM (320 views) Add Comment
4 Comments
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1. Greasemonkey said...
same old stuff really. Its all down to supply and demand - people will pay what they want to pay and no more. If that means high property prices so be it. Where I live (westcountry) doesn't seem to be a lot selling, suggesting bigger falls to come than a few percent. That's if people want/need to sell of course.
2. techieman said...
Yes BUT the spread will kill you on this stuff. Range has been [Dec 07] High 201-20 low 191-80 today : High = 194-80 Low = 191-80. Spread = 3 points. i.e. 3 grand. March 08 is around 187-00 mid price.
3. Hyrax said...
How about a guestimate made from the lower longterm average from the HousePricecrash own website diagram -
the extrapolation from the 3 troughs (of £55k in 1978, 60k in 1983, and £70k in 1996) looks rather like an average house price of £95,000 in about four to five years out from now, say 2011 when the undershoot bottoms out?
The VIs would grab the average redline in the next part of the crash ( say £155,000 in 2011) for a bit of cold comfort, once their highly touted plateau at current peak prices fails to occur in their own minds!
The price of bubble assets can go up and down
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