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Uk House Prices Knowledge Base
To what extent has the credit crunch contributed to the fall in UK house prices? We all know that the credit crunch has banks to blame for because of giving out massive loans without making a proper risk assessment. But are the goverment as well to blame for the credit crunch if yes then why ? But mainly what i want to know is "To what extent has the credit crunch contributed to the fall in UK house prices" Thanks
How much % will UK average house prices fall in the crash? With the average UK house price being at around £180,000 at the moment. (I know £180,000 doesn't cover the very expensive areas.. it's just a national average) Ollie, the banks no longer have enough money to keep lending for as many transactions of £250,000 a time. There is not enough lending money to go around. That's why mortgages are harder to get and more expensive.
Why House prices in Ireland are falling so hard, whilst UK house prices remain stable? In UK and Ireland they both have a culture of homeownership, they both speak English and culturally and economically and politically simialr in many ways, why house prices in Ireland are crashing so hard whilst that in the UK are not?
How fast will UK house prices correct to an affordable level and to what extent ? People are predicting a 28 percent correction over several years, rightmove has posted a large fall in prices for august, what do you think ? And do you think it will help people who currently have got a housing problem, eg cannot afford a place to live ?
By what percentage will UK house prices fall in the next 12 months ? I've heard everywhere from 5% to 15%, but what is your opinion? Also, will the global financial crisis have a dramatic effect on this?
How much % will UK house prices crash in the next 4 years? Sorry Ross but demand doesn't determine house prices. The abilitiy to pay does, and if you can't get the finance, house prices crash. And the banks in UK have been on the verge of meltdown. You think the credit crunch is bad now... ? It's only just started miladdo. Lending will get tighter and tighter for 10 years +
Uk house prices are dropping by £120.00 a day, does this mean this year is a good time to buy? I have little understanding of real estate...I am a first time buyer and plan to see a financial advisor...but do you know how it works? If house prices plummet is that a good thing for people like me?
Is there a link between mass unskilled immigration to the UK & house prices? Mac I look at all three sides! both 'face's and the circumference! I guess your understanding is some what limited thinking?
How much cheaper is the US than the uk in house prices? the average house price in the uk is £178,423 ($359,214) and where I live I could buy a very small terraced house or a two bedroom flat for that. What kind of house could I buy in the US for that???
What will happen with UK House prices? House prices in the south of England are now so high that owning a home is out of the reach of virtually any average earner who doesnt have a toe hold on the property market already, and with private rental in London running at between 800-1000GBP its impossible to save much money. So what happens next?
Where can I find UK house prices by postcode dating back to 1995? Information needs to be free and based upon commercial sales.
Which direction are UK house prices heading ? Should I buy now or rent and wait a couple of years ? I'm employed as a civil servant in London and have children
What effect will this budget have on house prices across the UK? Will CGT be payable on sale of second homes? The earnings of people across all income streams across the UK is frozen and/or dropping. When will this start feeding through to house prices which still bear no relation to the reality of people's earnings?
Why do the house prices in the UK have a strong regional component? Why do the house prices in the UK have a strong regional component? How can you illustrate it with a table? What makes one region more attractive to buyers than another? If possible don't use difficult words please. Thanks
Are you like me in Enjoying seeing UK House Prices come down? Houseowners need not comment.? I dont want to hear that it will impact on the ecomony and then so me. bla bla bla. I just want to know if you would like the house prices to come way down. (like me). Houseowners need not comment.
Will house prices in the UK keep falling in the decade ahead? Will house prices in the UK keep falling in the decade ahead so that the third generation in this country can afford better houses?
Will UK house prices ever come back down? I still live with my folks but am saving for my first house together with my partner.... Only problem is, house prices seem to be rising much faster than we can save! I dont know too much about the property market, but it seems like we've missed the boat, like we'll never get on the property ladder - or we will JUST make it, and then the prices will crash! Anyone have any predicitons or words of advice? Will the market crash, and if so, when?!?
where in the uk are house prices falling at the fastest rate? Where are the areas where the house prices are dropping at the fastest rate
Credit crunch leading to house price falls in UK and the economic theories behind it? Want to know what econom? Credit crunch leading to house price falls in UK and the economic theories behind it? Want to know what economic theories can be involved with the fall of UK house prices due to credit crunch. Can you also apply the theories to the fall in house prices in UK. Thank you
UK House prices to rise soon? UK House prices to rise soon? Economists think house prices will stabilize in the next few months and then start to rise again ,but how can they? Even though they have fallen in the last 18 months there still dont seem to be that many cheaper houses in the estate agents,many people are still trying to sell their homes at the prices of 2007, they are still overpriced so people will still be totally stretching theselves financially to buy, and thats what got us in this credit crunch mess in the first place
Should I believe in recent press coverage of a pending fall in UK house prices? Looking for recent commentary on the topic from good sources
UK House Prices drop followed by mini boom??? Yes another House Price question. I have looked about at several web pages and there is something I can't grasp. Almost certainly house prices in the UK are going to fall this year, but as everyone knows there is still a huge demand for housing, (with the average first time buyer age at 32) and once it falls there will be loads of first time buyers jumping in and putting the market back up again? I understand there may be a 3-4 year turn round, but with the slightest fall in house prices will eventually trigger a mini boom... My question is does anyone else see this? Or is there something I am missing? All I seem to see is the media making a big deal out of something very slight, I mean how can house prices fall by 25-35% when there are so many first time buyers out there?
Uk House Prices? How far will the drop? How far will they go down. i would be a first time buyer, I almost brought a house last month that was on the market for £130,000, i agreed a price of £118,000 i was think grate i done such a grate deal here. then it came to the valuation for the mortgage and it came out at £112,000, i decided not to try and renegotiate i just pulled out of the sale because it scared me to death. I did some Research and found some really worry results; the house was purchased in 2001 for £63,500 i know that was 7 years ago but what a difference. (you can find that type of information on the UK land registry) i thought was it them just over pricing there property but it's not prices have really gone up that much and just 10 years ago that house would have only cost around £40,000 at market rates. that's a £90,000 difference to there asking price in only 10 years. So my Question is how far will they drop could we see prices smiler to levels 5-10 years ago and if so that could be up to a 64% drop?
With UK house prices set to fall 25%, should these significant falls be reported in a positive light? In the UK, from 1997 to 2007 the average price of a house increased from £58,000 to £188,000. From this period, wages only increased by 40%. This had the disastrous effect of putting the price of property out of the reach of most ordinary people, with house prices over 7 times the average salary. This also had the appalling effect of people only being able to buy property on the basis of their family wealth rather than their income, a situation which could have a highly damaging effect on society for decades to come, exacerbating the gap between rich and poor and sounding the death knell for a meritocratic society. With UK house prices set to decrease by 25% (Daily Telegraph: 10/01/11) should these falls therefore be celebrated, and reported in a positive light?
Are UK house prices any closer to recovering? Taking the UK as a whole, the price of an average 3 bedroom property is still being promoted at an average of £160,000. This is less than ten percent down from the pre-crash high in 2007. But the hidden, unreported reality is that these current average prices are totally unsustainable in our present economy. Unemployment is rising, wages and salaries are frozen or being cut, while inflation is running at a minimum of 5%. This means real take-home pay is falling and falling. More and more homeowners are struggling with personal and mortgage debt and their home values, as they're currently perceived, are completely unrealistic. For those of us who know what's really going on, we're expecting this current average property price of £160,000, will drop 40% to a floor of £96,000 before a sustainable recovery can begin to emerge. The same is true of commercial property assets that are still grossly over-valued. At the moment, banks are falling over themselves to try and keep homeowners in their homes and at least paying something, otherwise foreclosure rates would be sixty times higher than they presently are. Our best guesstimate is that nearly 70 percent of all mortgage payers in this country are sitting on negative equity. We've avoided a depression but until the market catches up with reality and selling prices start reflecting where the UK economy really is, there won't be a recovery in house prices until 2025 at the earliest. Response to Cornelius: You're right of course, but this correction has to be managed carefully or this Country will end up in a major recession. Trouble is, anyone who buys a home at a price that is higher than a 40% drop on the peak 2007 valuation is going to lose a lot of money. Buyers are going to have to be tough and do their homework...
UK - with house prices high (even if they are falling a little) - and mortgages harder to get? And just a tiny change in interest rates meaning a huge hike in repayments, is it time to invest heavily in pubic housing, now that it is needed more than ever? lol sorry sticky keys! PUBLIC housing - ie council/housing association.
Are UK house prices crashing? Is it just a blip? Or is it something more serious? Someone at work told me we are going back to what house prices cost in the 1960s. :o
How come house prices are so expensive in uk? How come house prices are so expensive in uk. In my opinion its them programs in the morning on bbc 1 ITV bumping up the cost of houses. "I bet estate agents love them programs in the morning" Also all my friends don’t want to live in a house anymore they go "well we do it up then move on and make a profit", I look at them daft saying why ?? you only just moved in!. Years ago people use to buy a house and live in it for the rest of there lives. then pass it on to there children. Maybe I don’t get British cutlery anymore and I’m only 27.
Are house prices in the UK beyond the limits of most first time buyers? I feel sorry for first time buyers trying to buy this first house in the Uk today,i bought mine outright in 1997 for £52000 (it a 3 bed semi) it now worth £165000 . What can be done to make house prices more affordable to first time buyers?
UK house prices- are they really falling? I have seen a few now and they are overpriced and not very nice!? what are the predictions really? some saying going to drop still and some that we have reached the bottom? I have seen a few proprties and it is good money down the drin. cant get anything spacious in london for < 400k!
Where can I get the best advice on what house prices in the UK are likely to do over the next 12 months? I am thinking about buying my first house early next year and I keep hearing that property prices are going to fall, then I hear they are going to rise. I don't know who to believe. I know its never guaranteed either way but where can I get the most accurate and informed predictions? Many thanks
UK house prices are starting to fall. How long before they turn around? Borrowing costs are at an all-time high as Banks and lending institutions try to re-build their balance sheets. Potential borrowers face stiff lending criteria as well as huge fees. The BoE is under intense pressure to raise interest rates to counter huge inflationary pressures. These elements, along with many others, has crushed demand for housing at their present price levels. Some sellers have seen the writing on the wall and started to cut their asking prices. Real Estate professionals are already predicting that a stable housing market cannot be established until prices fall back to their "pre-bubble" level. Which, based on current salaries, would take us back to the year 2000. How long will it take the UK housing market to reach this level? Until it does, demand will stay incredibly weak...
UK house prices to 'crash'?? Why are they predicting this? I refer to the article below & wonder why?? http://www.dailymail.co.uk/news/article-1261406/Post-Office-set-offer-super-size-mortgages-people-10-deposit.html Thanks Jim - but surely those painful lessons have been learned??
Can some one explain house prices uk? 1. Do house prices have any relation to interest rates? 2. Are you meant to by one the interest rates are low? 3. Can you buy a house at 18? even though i've just got £3k(rising) in the bank 4. HIP's how do they affect buying and selling? thanks
Is it now inevitable that house prices will tumble here in the UK? Since newspapers have reported falling house prices in the US, Spain, Bulgaria and now 1.6% last month here in the UK is it now a self fulfilling prophecy and a massive 20% to 50% correction to our overpriced houses will come within the next couple of years?
Are UK house prices going to crash? i really want to buy my first property. but, is tghis the right time? do u think prices will continue to rise and that i should get on the ladder now, or that the prices are too high now and there will be a crash?
Need info on UK house prices? Hi Can I have a website that gives updates on how the uk house marekt is gpoing? Thanks
How Long Until House Prices Increase in the UK? Im looking to Relocate to another country, however, b/c of the current Housing situation, I cant get what I want for my house at this time to move and live in another country with confidence, knowing I will have the money to support myself. Im asking for people who are in the know, how long until house prices Re-bound?
Will UK house prices go up or down? I am about to buy a house. Help me!
looking for a good place to emigrate from UK, low house prices? warm climate. no nanny states please! have looked at oz and NZ thus far... looking for work as well im a telecommunications engineer..... a nanny state being a government which outlaws everything for example smoking (which im not)..in uk you cat do anything
Why is the fall of house prices in the UK reported to be a gloom? It should be a celebration! Why can't houses be seen as homes again instead of unjust get rich quick investments? This "got to rip you off" mentality in Britain should be made illegal. Houses are for shelter but programmes on TV treat homes as nothing more than showrooms for profit. I know people may have negative equity but we can't continue to rip off others because of what wanton greed caused in the first place. Justice needs to be readdressed and homes are sensible for everyone.
Do UK rental prices for residential properties fluctuate with the house prices? Is there anywhere I can find any historical data? Many thanks. David B - Do you think now's a good time to buy a house? I'm looking to let it out to travel after around a year. Thanks
Are house prices in the UK going to fall and when? They keep going up beyond everybodies expectations. Surely this is un-sustainable? Does anyone know more about the trends and factors involved?
What effect do you think WW3 would have on house prices in the UK ? I mean, even in the depths of recession they are always banging on about the housing market on the telly, yet nobody ever vectors in the effect of a thermonuclear exchange on the property market, a risk that must be growing significantly in an ever more unstable world. I guess it comes down to which suffers the greater destruction, property or people. Certainly I don't think that ' affordability ' or ' the feel good factor ' would any longer be part of the equation. What do you think ?
uk house prices? i want to buy a house quickly (within a month) but people are telling me that in november prices will drop by 1/4 . is this true. when is the best time to buy? what will the difference be if i buy now or later? (about a 500,000 pounds house)
Are UK house prices racist? Apparently, people fear gypsies moving onto nearby land because their house prices will go down...should councils investigate the house prices for possible race hate crime, and consider pressing charges on any potential housebuyer for potentially not wanting to move into an area populated by travellers?
When are UK house prices going to start going back up? I have a mortgage on my house which is due for renewal in September 2009, at the moment the mortgage is now more than what my house is worth! I am very worried that I won't be able to get another mortgage, what happens then?? When are house prices going to start rising again?? Listen Andre, you f**in idiot. I am a normal person with a family that is trying to keep a roof over our heads. I want the prices to go up so that I can remortgage and not get my house repossed. D*ck head!! Thanks Kevin, my thoughts exactly!! :~)
Why do UK house prices rise? I am sure there are a combination of factors involved in this, and I'm sure I could probably name many of them. I'm sure fundamentally it's down to economics; supply, demand & externalities. Would be nice to get some other peoples opinions though, especially from people who perhaps work in a related industry, or are experts on the subject.
Is the UK heading for a house prices crash? Rents went through the roof because people couldn't get mortgages and buy houses. Increasing demand for rental properties. More demand means higher prices. It doesn't mean the cost of a house drops.
UK only. What have house prices been doing over the last twelve months? If I bought a house for 150K last spring, what would it be worth now?
can I look up UK house prices like you can with http://realestate.yahoo.com/Homevalues In the USA? ideally I would like to specify house type 3 or 4 bed see the different locations of the houses on a map.
Another big slide in the UK stock markets will this effect house prices even more? housing market here in northern Ireland have come to a halt, with interest rates having gone up, and house prices are set to take a tumble. with this slide in the stock markets could this make the housing market even worse. and if you can tell me have the house prices fallen in england , Scotland , and wales if so could you tell roughly by how much.
when are house prices in the UK going to recover? I need to know!!!!!! I don't like any of these answers, can someone lie to me please?!
UK House prices. Will there be a crash? Or a soft landing that is often talked about, but has never existed in any market!
Will UK house prices crash in 2007? http://www.housepricecrash.com http://www.globalhousepricecrash.com
what do you think of house prices in the UK? are they gonna keep climbing up or are they more likely to fall? we're deciding to sell our house, would like to see what the market picture is like.. thanks for your opinion.
another big slide in the UK stock markets will this effect house prices even more? housing market here in northern Ireland have come to a halt, with interest rates having gone up, and house prices are set to take a tumble. with this slide in the stock markets could this make the housing market even worse. and if you can tell me have the house prices fallen in england , Scotland , and wales if so could you tell roughly by how much.
In UK how can house prices have almost doubled in the last 10 years when wages have hardly gone up at all? To compare - how do, or how can people manage to pay their mortgage? Also the rate of inflation in UK is based on "items" "chosen" by the government in their favour each month to make it look like it hasn't gone up much when all utility bills have actually soared. How is this allowed and WHY?
Are Property Prices likely to fall in the UK like they are in the US? The American property market is now falling on a year by year basis - we are told that UK house prices are overvalued if we look at the rise compared to the increases in people's incomes, will we see similar drops in value here? What is likely to crystalise this situation?
Will House prices in the UK begin to rise again soon? We bought at the wrong time! 2 years ago. Our flat was bought at £180K but is now worth £165K.... when do you think it will get back up near what it was? or will be stuck there forever? what do you think will happen?
Do you agree house prices should fall in the UK? Only UK citizen's answer please. The credit crunch is a manufactured scam by the banks to take people's property away and its working...
what is the cheapest way to keep your house warm in the UK ? Gas prices are just getting silly now!?
Is the drop in house prices bottoming out ? Do you think, given the latest reports, that the housing market collapse is coming to an end, and that house prices will be more affordable to buy? I am talking mainly about UK prices
where can i get info on house prices in the uk especially pre 2000 data? i have searched but can only find details after 2000. i want to find out what a property was bought at when it was sold pre 2000.
Why do you think house prices are so high in UK? Is it middle aged people buying 2+ houses then renting 1 out? Is it something else? And do you think they will ever fall enough so a 3x annual income mortgage is sufficiant?
Do you think house prices in inner London will fall as much (or at all) as other parts of the UK? Recent reports in the FT suggest that as London is the UK's only global city, that prices will not be hit as hard as in the Midlands or North of England.
Why are house prices still going up in the UK? What is fuelling the rise? Abstract thinkers only, otherwise move on!
Are house prices rising at a ridiculous rate everywhere or just in the uk? House prices are always rising, but now they are 11 times higher than national average earnings and they are expected to double this ratio within 5 years. Is it the same situation around the world?
Which is the best website for UK house prices? which is the best place for sold house prices, property valuations etc to know what my house is worth and my neighbours.
Why are house prices so high in the UK? I'm looking for a serious explanation from someone with an understanding of economics!
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