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tuggybear

Middle Britain House Prices To Fall £40k From Peak

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The average price of a home in ‘middle Britain’ will by Christmas have dropped £40,000 from its peak, a group of economists, psychologists and finance industry experts has warned.

Such a fall would equate to a fall of more than 18% off middle Britain property prices, according to AXA’s ‘Financial Taskforce’. This would leave middle Britain – defined as households with an income of between £40,000 and £100,000 a year – seriously exposed to the risk of negative equity.

The taskforce calculates that a ‘typical middle Britain’ household that bought a home in March this year might now have only £15,000 worth of equity left in their property – equivalent to just 9 per cent its value

Continued : http://www.citywire.co.uk/personal/-/news/....aspx?ID=308696

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I guess that not everyone who bought in March has a big mortgage, or even a mortgage at all. Hey masked tulip, which one are you in your avatar? :blink:

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Guest Shedfish
Are they seriously trying to say that anyone who bought a house in March would have any equity at all now?
I didn't think that anyone had bought a house in March? :rolleyes:

reading between the lines -

"a ‘typical middle Britain’ household that bought a home in March this year"

just the one sale. that would explain it

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Guest DissipatedYouthIsValuable
I didn't think that anyone had bought a house in March? :rolleyes:

:lol::lol:

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The average price of a home in ‘middle Britain’ will by Christmas have dropped £40,000 from its peak, a group of economists, psychologists and finance industry experts has warned.

Such a fall would equate to a fall of more than 18% off middle Britain property prices, according to AXA’s ‘Financial Taskforce’. This would leave middle Britain – defined as households with an income of between £40,000 and £100,000 a year – seriously exposed to the risk of negative equity.

The taskforce calculates that a ‘typical middle Britain’ household that bought a home in March this year might now have only £15,000 worth of equity left in their property – equivalent to just 9 per cent its value

Continued : http://www.citywire.co.uk/personal/-/news/....aspx?ID=308696

Oh yeah, of course, and these were the experts who saw the credit crunch, house crash, rising fuel prices, and an all out financial crash in the UK, and subsequent massive unemployment lasting 10 years and beyond.

Oh, actually, they didn't foresee any of this. Doh!

Experts :lol::lol::lol:

Here's a realistic experts prediction:

By xmas = 60%-95% (we're already at 40%+ in many places in the UK)

By next xmas = meltdown.

Edited by renterbob

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Are they seriously trying to say that anyone who bought a house in March would have any equity at all now?

Because by March you would have had to put down at least a 10% deposit. Prices havent gone down 10% since March - Yet :lol::lol::lol:

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Oh yeah, of course, and these were the experts who saw the credit crunch, house crash, rising fuel prices, and an all out financial crash in the UK, and subsequent massive unemployment lasting 10 years and beyond.

Oh, actually, they didn't foresee any of this. Doh!

Experts :lol::lol::lol:

Here's a realistic experts prediction:

By xmas = 60%-95% (we're already at 40%+ in many places in the UK)

By next xmas = meltdown.

Well I reckon this quarter just gone is going to go YOY negative in the Department of Communities and Local Government figures (unless they doctor them which I wouldn't put it past them to), and that is when the panic is going to set in. but I think 40% is right overall - a lot of places are 40% down but how many houses are on the market. The reality of the hammering has to sink in before the stock really starts to move at the lower price.

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Because by March you would have had to put down at least a 10% deposit. Prices havent gone down 10% since March - Yet :lol::lol::lol:

if you take into account stamp duty and fees it might be a 10% drop!!

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  • 396 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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