Friday, February 1, 2008

Can’t wait to see the first BTL bankruptcies in London

Darkening clouds point to UK house price falls this year

'Markedly reduced housing market activity is now weighing down significantly on house prices, and this seems set to continue for an extended period,' Archer said. 'There is clearly a very real danger that a sharp housing market correction could occur.' Credit Suisse takes a more extreme view than most, predicting UK house prices will fall 10 pct this year. That is a slight shift lower from its forecast for a drop of 5-10 pct, made in the autumn. 'House prices have started to fall and we think leading indicators like the RICS survey, consumer confidence and mortgage approvals will continue to feed into further declines through 2008,'

Posted by confused76 @ 02:22 PM (767 views)
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4 thoughts on “Can’t wait to see the first BTL bankruptcies in London

  • Cheekie Charlie says:

    As frequently mentioned on this site if the banks factor in a 10% drop ths year alone then the LTV may decrease upto 75% for alot of mortgage products. This alone will mean HPI will be stuck in reverse gear for years and factor in all the other variables then there’s going to be a fire sale.

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  • It’s funny how house prices are very quick to rise……..but slow to fall.

    There are a lot of people holding on out there.

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  • “Capital Economics, which has been looking out for a fall in prices in 2008 for longer than most other analysts, lowered its forecast in mid-December to a 5 pct drop from 3 pct.”

    I’ll tell you what, how about we stop listening to experts altogether – after all they can never actually get it right!

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  • Yes hpwatcher,

    I know a lady who has 23 BTL’s (or so she says). I hope she is holding ont her bladder as well… LOL !

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