Friday, Jan 18, 2008
it's just a question of how far and how fast they'll fall
Firstrung: The housing market bubble had to burst at some point - Moneyextra
"It's now clear that the housing market has slammed on the brakes, the most optimistic outlook for house prices for 2008 would appear to be that they'll stand still but values are falling now and are likely to continue to do so - it's just a question of how far and how fast they'll fall." - Robin Amlôt, Senior Editor of Moneyextra.com
Posted by converted lurker @ 11:18 AM (512 views) Add Comment
3 Comments
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1. becky said...
"Despite a tough market for first time buyers in 2007, it was this sector which showed the strongest gain in average property values, rising 4.31% to £190,040 in December 2007"
I found this quite surprising and I'm assuming that this didn’t occur because of increased FTB activity but because any "FTB" property on the market was gobbled up by BTL and investment purchasers. I certainly hope this is the case because if anybody has to take the biggest hit I'd much rather it was those people whose greed has been one of the major causes of the problem in the first place!
2. theboltonfury said...
statistics can say what they like but the fact remains house prices are starting to come down (if only by a bit) - take Warrington as an example, average house price under £200k and they are coming down at a decent pace
is that 4.31% figure a comparison from December 2006?
3. it_is_going_with_a_bang said...
" the dangers of negative equity should be avoided."
Provided you didnt buy in the last 2 or 3 years and you haven't already used that equity to fund your lifestyle.
I wonder how many people fall into those categories.