Monday, Feb 09, 2009
"2009 likely to see further large falls in UK house prices"
Citywire: Safe as houses?
Reflecting the national obsession with the value of our homes, there are now a number of measures published by banks, building societies, internet estate agents and the government suggesting UK house prices fell by more than 10% in 2008. There are also many economists that forecast what will happen to house prices. The consensus view is that they will fall by another 10% or so in 2009. Given their poor past track record, economists’ forecasts should be treated cautiously, but there are several reasons to suspect that a further substantial fall in house prices will occur. First, houses continue to be expensive.........
Posted by jack c @ 07:23 PM (666 views) Add Comment
5 Comments
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1. will said...
Very conserative - I hope.
2. shining wit said...
will @ 1.....
I suspect that the tremendous collapse in house prices that the economists are singularly failing to predict is because the 'tiger' economy based around call centres and clickety-click laminate flooring and DiY centres coupled with an incredible manufacturing base, will see Wales through and 10% falls in house prices seems an exaggeration to me!
3. Jon said...
got £50.000 in the bank its making no money in there so should i buy a house? and hope that they dont fall much more! they did say that they went up a bit in jan but how can that be right when lots of people are losing there jobs and they have said to day that repossession are going to go up this year as well they said 4 days ago that lots more people are going bankrupt i know money in the bank is making nothing but there can not be lots and lots of people up and down country all rushing out buying house's cos we are in a recession and a credit crunch, your are we not in a recession!!
4. justwatching said...
Jon, your 50k is making a sh*t load of money. Wait 18months & see how far it goes towards buying a house.
5. Crunchy said...
3. Jon
Have to agree with justwatching.
If you are thinking of buying a 200k house and they drop only 10% this year, that's a 20k return on 50k.
Not too shabby!
There really is no rush. Some would love that as a wage.