DailyMail Doom

[DimPrawn]

House prices 'to fall for the next five years' in longest property slump for a lifetime | Mail Online

House prices in Britain will fall for the next five years in the longest slump for at least half a century, leading economists warn today.

Property values in the UK are set to fall 4.5 per cent this year and 10.5 per cent by the end of 2015, according to the National Institute of Economic and Social Research.

The five-year slump in real terms – after inflation has been taken into account – is the longest period of decline since records began in the 1960s.



Doomed I tell yer!


(Or boomed if you have an eye to pickup cheap property down the line).

[DimPrawn]

On a related note

BBC News - Focus DIY seeking administration

"Six or seven years ago, DIY was the sector in the fast lane, but now it is in the slow lane because people are not moving house."

[DimPrawn]

House prices fell 20% in Wales.

Odd that.

BBC News - Land Registry survey shows sharp Wales house price drop

There's lovely for you.

[gingerjedi]

A good thing Shirley?

Unless you want to use your untapped 'wealth' as collateral to fund a lifestyle you can't really afford.

[DimPrawn]

A good thing Shirley?

Unless you want to use your untapped 'wealth' as collateral to fund a lifestyle you can't really afford.

So it's bad news for 99% of the UK populace then.

[gingerjedi]

So it's bad news for 99% of the UK populace then.

99% of the UK populace don't know what's good for them.

[TimberWolf]

Surely with wages dropping in real terms, lending being tightened, public sector workers being fired, inflation eroding savings, unemployment, minimum and part-time jobs booming and careers a thing of the past, £160K mortgages would be easy to support and house prices look really sensible? If not, just lower interest rates some more

[PAH]

99% of the UK populace don't know what's good for them.

They were caught up in the myth that having average house prices closer to 200k than 100k is good for them and their children, despite average earnings remaining in the low 20k region.

Sure, they can release equity to fund their 'celebrity lifestyle', but wait till their kids want their own place. Oooops.

[Pondlife]

A tidy price drop boyo.



Then again, it is mostly above the snow line & is as rough as you like in places.

Even the sheep carry knives.

I was at a BBQ the other week with a chap who was trying to run a NEETs scheme up there.

Talk about flogging a dead horse. Although he did say Brum was far worse .

[Fred Bloggs]

I regard this as an economic certainty, it was only a matter of time before house values dropped back to their long term average versus wages. I think it will take an adjustment of around 50% before that is acheved in many parts of the UK. With taxation rising, wages static/falling, the economy truly toasted and general inflation at about 5% the stage is now set for this to happen over the next 5 to 10 years. Overall, this will be a good thing, my kids might be able to buy somewhere to live then.