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Housing market - boom or bust?

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  • Housing market - boom or bust?

    Here's an interest piece on MSN:
    http://money.uk.msn.com/Investing/In...umentid=660092

    It states that a fall in property prices is unlikely - excepting under 3 key criteria:

    1. Interest rate rises
    2. Rising unemployment
    3. Rising inflation

    and then concludes that the housing market is likely to simply flatten out.

    BUT...

    1. Interest rate rises are on the cards
    2. Unemployment is rising, and now the highest level for 6 years
    3. Inflation is *above* the Bank of England's target, and oil prices are now at record levels.


    I'm torn between looking to simply jump on the property ladder while I can - or else wait as much as another year, and possibly have a better pick of properties in a buyer's market.

    Aargh!!

  • #2
    I doubt if the housing market will really flatten out. I definitely don't see the prices falling

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    • #3
      I dunno. Depends how much faith you put in MSN

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      • #4
        To be honest, I've really been hopeful of a flattening market, but it's certainly not happened in Scotland yet.

        Also, I'd seen it suggested before that London effectively serves as a predictor for house market movements - what happens in London, ripples out.

        ie, when London prices shoot up, people sell up and move out, effectively stimulating the areas they move into.

        London boomed before the general housing boom took off, then slowed - and the general markets slowed down.

        But London property is booming again. And with the Olympics being held in 2012 in London, I can see that adding another kick for the London property.

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        • #5
          hey thanks for that post. right now, i think prices of properties are just rising here in the philippines. there is a greater demand for apartments and condos especially here in the city. that's why im opting to go on a for-rent business in the near future.

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          • #6
            Shame I haven't some spare cash, otherwise I could look at buying abroad.

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            • #7
              I see a fall in prices as unlikely, too. There's just too much demand. The only thing that could take the wind completely from the sails of the UK property market, so far as I would guess, is the complete collapse of the rental market. But that ain't going to happen unless we see something drastic like bird flu.

              2c.

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              • #8
                Originally posted by brian View Post
                I'm torn between looking to simply jump on the property ladder while I can - or else wait as much as another year, and possibly have a better pick of properties in a buyer's market.
                Aargh!!
                Brian... it's been nearly 8 months since you posted this. How did the market end up going, and what was your decision? I'll be facing the same thing soon. I want SO much to own the house next to us when it goes on the market but there are a few factors making me think that may not be such a good idea. It will be a dilemma for sure.

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                • #9
                  I think is has moved from a buyers market, to a sellers market. Good thing I bought a house a year ago.

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                  • #10
                    I would love to know what you ended up doing and how the housing market is their? I know it is not easy to sell a house here in the states. Not fast anyway and usually not getting what you want pricewise.

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