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HAVE YOUR SAY

WILL THE HOUSING MARKET EVER CRASH?

Will young couples ever be able to afford to buy?

Tuesday May 15,2007

Comment Speech Bubble Have your say(5)

THE price of the average home has soared £20,000 in the last 12 months, official figures show today.

The latest Government report reveals house prices rose 1.1 per cent in March taking the average cost of a home to £206,890.

This leaves the typical property over £20,000 more expensive than a year ago when a home cost an average £186,500.
Despite a slight slowdown in Britain’s property boom, prices are still rising at more than 10 per cent a year.

Figures from the Royal Institution of Chartered Survey-ors also showed house prices rising for the 18th consecutive month in April, driven by renewed momentum in London, the South-east and East Anglia.

What do YOU think? Will it ever crash, or will it just get increasingly harder for first time buyers to get on the ladder?

HOUSING MARKET CRASH?

17.05.07, 1:30am

I'm reluctant to bring the same old argument into this question, but it has to be said !
The housing market will continue to be artificially inflated while demand is high for accommodation due to this governments continuous open door policy with migrants and immigrants. In one area recently, it was reported by estate agents that 1 in 5 houses were sold locally to Polish migrants alone.
Many immigrants or EU migrants rent multi-occupancy properties, thus increasing the demand for buy to let. But don't people realise that this trend cannot continue indefinitely?
When the Country is bursting at the seams and they are forced to stop all immigration. Or when there is a World stock Market collapse or a serious terrorist threat to oil supplies.
There will be one almighty recession and interest rates will hit the roof, just look back in history!
Risky business, very, very risky business!

• Posted by: steveg • Report Comment

A CORRECTION IS MORE LIKELY

16.05.07, 2:18pm

Hi

most will not be aware that property prices have already corrected several times in London and risen again. We are aware of property prices as our son was looking for a 2 bedroom apartment.

A loss is a loss and if someone bought for investment a property for 250l 2 years ago and sold now for that amount - after taking fees and stamp duty in to account, he/she has lost thousands.

more to the point a crash will not happen, the one like 1987/88 and the 1970's crash as jinterest rates were very high and in the 70's there was an over supply of property

Also bear in mind, our son took a 30 year mortgage which was unheard of a few years ago and a friend of his took a 40 year mortgage and interest rates are still relative low - so prices will correct especially in some parts of London but not crash.

Warning - we are seeing repossesions again and this is on the increase - but there are people with loads of money and those are snapped up at auctions.

The losers are the new/first time buyers that lose their home and still continue to have debts deducted for years as they WORK

• Posted by: LucianDeville • Report Comment

WILL THE HOUSING MARKET EVER CRASH?

16.05.07, 8:46am

Will the housing market ever crash?
Not in rip-off Britain. You will, as we have always done, pay the highest prices for everything.
We now have some foreign landlords renting out their property per bed to illegal immegrants, with 10 to a room. They can't buy enough houses to cover demand.
So you will pay the price or alternatively you can rent for the rest of your life, you choose.

• Posted by: Save_Britain • Report Comment

WHO KNOWS

15.05.07, 10:54am

Who knows? It's hards to believe prices are so high and people are still buying at insane prices.

One things for sure unaffordable housing is not good for society in the long run despite the Express seeming to celebrate each rise in prices.

• Posted by: Simon1 • Report Comment

ITS A CASE OF SUPPLY AND DEMAND!

15.05.07, 10:50am

Prices will continue to rise as long as their are insufficient properties to go around.

A chancellor soon to be PM that believes building 100,000 houses over five years whilst another 1,800,000 immigrants invade the UK, supply outstripping demand is unlikely.

But as the UK sinks under the weight of Europes freeloaders and these properties disappear beneath the waves values will drop sharply as the fish move in!

• Posted by: The_Way_I_See_It • Report Comment