Thursday, October 30, 2008

35% drop by end 2009

Auctions point to steeper fall in house prices

"The average price of a property sold at auction dropped nearly 30% over the past 12 months leading analysts to predict that house prices in the general market have a lot further to fall."

Posted by letthemfall @ 12:44 PM (676 views)
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One thought on “35% drop by end 2009

  • why all the messing around the govt should step in and take control by cutting the property prices by 50-60% now to bring the market into line with earnings then we can get the market moving again, this would help to get the economy moving again saving businesses and jobs, then the property market should be regulated to keep it in line with inflation to stop the boom bust culture houses are for living in not investments for get rich quickly people ( a bungalow in bramble ave norwich sold at auction for £128000 last week the very next day it was on the market for £165000 i hope whoever bought it loses out), the days of liar loans and 7x earnings motgages are gone so where are people going to get the money from to buy these over valued properties so it obvious prices have to drop alot further, if they keep dropping 1-2% each month this downturn is going to go on for years and even at the end of it people should still be careful how much they borrow as all this debt has to be repayed so the govt will raise taxes and don’t forget the greedy bankers they will want to repay the govt the 500 billion as quickly as possible so they can start getting their big bonuses again so say hello to interest rates of 15-?% again

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