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Could house prices be about to go up for first time in 18 months?

Thousands of young people fighting to get on property ladder

RICS predicts prices are picking up

Average prices;

2000 £75K

2004 £155K

Some predicted a crash but things just levelled off

[shows graph leveling off and then shooting up from here]

It means bad news for FTBs

Journalist on streets of Milton Keynes;

Journo: 'Look at this street in Milton Keynes' – points to lots of sold signs

Journo: ‘This means only one thing, prices are going up’

Local EA: 'greater interest level from FTBs'

Journo: marginal price rise, dependent on further cuts

EA: whilst additional interest is there it will fuel increase in prices. There are more applicants from bottom end of market place. This news has to be good news for all of us

Journo: sudden crash in house prices a lot less likely to happen

Report says housing market is set to turn a corner.

Prices are recovering and according to the experts they are on an upward trend for first time in more than an year.

They want to hear housing horror stories

Desperate to sell? Can't sell?

Text: 80088

Email pulse@itv.com

Too appear live 0870 242 1815

Then went onto receiving calls from people with 2 'experts' to advice;

Expert: Report deals with trends rather than historic fact like mortgage levels. It is held in high esteem as it is looking forward.

Caller Debbie:

My house on market for 18 months. Making reduced payments on mortgage due to divorce. Has equity – just enough to scale down in size. 4-bed house in Surrey. Doesn’t seem to be the case that house prices are still moving. [breaks down crying]

Advice: report is probably good news for people like Debbie. We are seeing more activity and hopefully she is receiving more people.

Advice: Pricing is crucial. 18months is a long period of time for house to be on the market. Go and look at places that are selling.

Caller Paul:

A recent grad from uni looking to obtain 1st career job in London-Reading.

I’m going to struggle to get a deposit and get a mortgage to obtain a property. What with my student debt already how can I expect to get into more debt with a mortgage?

Advice: So many schemes for FTBs. Start at the bottom maybe with housing association, they’ve got lots of wonderful deals.

Caller Jane:

Got 2 children, 20 and 18.

One at uni, one in further education

When they go to get a mortgage they will be asked if they have student loans so even more difficult for them to get a mortgage.

Advise: Major problem especially in SE/London area. Go to a broker and do lots of research. Maybe daughter will be earning better salary which will help

Edited by munimula

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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