How far will UK house prices crash?
By jameskempton
@jameskempton (145)
March 28, 2008 2:01pm CST
UK house prices have apparently fallen for the past 6 months and the average cost of a house in the UK is now apparently down to about £180,000. Mortgage prices are constantly being increased and mortgages products are being withdrawn or the lending criteria tightened. Where will it end? Will it have reached its lowest point by 2010? I'm sure that now is a bad time to buy, but I wonder when the crash will pick up speed and when it will eventually grind to a halt? Any thoughts?
1 response
@gemini_rose (16264)
•
28 Mar 08
It is probably my fault! I noticed that the house prices were going up lovely on the houses down my road, meaning that we would have made a nice little profit on ours. I started talking about selling it while the going was good and using the extra money to get a house of the same value or a bit more and putting the rest off the mortgage to shrink it. Since I said that the house prices started dropping! Needless to say we will not be selling up just yet!
@jameskempton (145)
•
29 Mar 08
Selling houses at the moment isn't going so well for some people. my neighbor has been trying to sell his flat for over a year now, but he doesn't want to reduce the asking price. The market is freezing up as mortgages are becoming so much more expensive, with added fees, charges etc
