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Downturn?

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  • Downturn?

    The experts are saying that UK property prices will continue to increase this year ....about 4% ...and will probably continue upwards after that. Does anyone else think that a downturn will start because of the constant increases.

    This certainly happened in the US when prices kept soaring until the average person was priced right out of being able to buy.

  • #2
    As long as there is a shortage of suitable housing there will always be a demand. Strong demand will keep prices up.

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    • #3
      A downturn in the UK markets has been predicted for the past couple of years, and even though 2006 was expected to see a real slowdown, it actually accerlated.

      I guess the bottom line is that the property market defies predictions.

      A particular new pressure will be the introduction of SIPPs and property investment for pension fund development - I think the biggest driver in the UK property boom has been people buying property simply for investment, and while this continues to be invited, I think it'll be very hard to put the brakes on the market.

      2c.

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      • #4
        Don't you think too many people have gotten into flipping and investments only? That's got to effect the market ultimately.

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        • #5
          I agree - it's been the rental market powering up the UK property market for the past few years. It's not that everybody decided to sell up at the same time - it's because a flood of money from borrowing on low interest rates meant an influx into investments, especially buy to let and second homes.

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          • #6
            It will be interesting to see when the saturation point arrives ...I think we're already seeing it a bit now. As soon as flips are slower, we'll see it all become quieter unless you're investing in urban areas where there's always a demand for housing. for my money, I'd be investing in Glasgow or Edinburgh!

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            • #7
              Boom Bust

              I read a great book called " Boom Bust, House Prices, Banking And The Depression Of 2010 " by Fred Harrison. What a great book. According to the author property prices will rise now and into 2008 before collapsing during 2009 and 2010 before gradually rising once more. I bought the book just over a year ago and so far everything he has predicted in the book has come true. He said the rush for houses would start in late 2006 and gather speed in 2007. He also predicted the last housing recession.

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              • #8
                So, it's almost a situation where if you have already invested, you're fine, but with rising prices and a collapse in sight, you've got to be prepared to sell quickly or wait it out for a few years.

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                • #9
                  Originally posted by Valiant View Post
                  I read a great book called " Boom Bust, House Prices, Banking And The Depression Of 2010 " by Fred Harrison. What a great book. According to the author property prices will rise now and into 2008 before collapsing during 2009 and 2010 before gradually rising once more. I bought the book just over a year ago and so far everything he has predicted in the book has come true. He said the rush for houses would start in late 2006 and gather speed in 2007. He also predicted the last housing recession.
                  Are his predications for the UK only, or does he give predictions for the rest of the world? I'd be interested in that, I might see if I can find it at the library.

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