House prices

[flyciderman]

I suspect that we will look back in the next 6 or 12 months and say that August 2007 was the top of the house price market, anyone agree?

[chazza]

It depends where you live, where I live the prices are still rocketing

[POLLIANNA]

The prices are getting stupid now.

[jake-the-peg]

Nope.

Pretty much the first discussion I had on AB two and a half years ago was with various people telling me that house prices were about to collapse.

www.housepricecrash.co.uk has been around for 4 years.

I see no more reason to believe this is any more true now than in the past.

What's your reason for believing this?

[flyciderman]

Jake the peg

It is just a thought but it is based on the following

1) Repossessions are up 30% on the same time last year.
2) Banks admit they have made many high risk loans.
3) Interest rates have gone up.
4) Many people have come off a fixed rate loan deals.
5) The 2 bed flat market in many places is suffering an over supply.

I am only suggesting that we might be at the top of the market.

I may be wrong, but I might be right, time will tell

[OBonio]

With respect to number 4 there. Surely that's because the mortgage companies have been pulling fixed rate products due to the unpredictable base rate?

To answer the question though, no, I don't think it's hit its pinnacle yet and I don't think there's going to be an almighty crash like the doom mongers are saying. It'll plateau eventually.

[flyciderman]

5) Are not interest rates due to up in September?
6) Record rates of leanding on credit cards?
7) Ist the buy to let market over cooked?

[fraggle08]

I do agree that the BTL market is totally overcooked, it has been for ages, but this is only a segment of the overall market and i don't think there will be a crash at all.
I think its 1st time buyers that are keeping demand going as it's been so scary looking at how much the market's changed in the last couple of years, people like me and my chap are realising if we don't do it soon we won't be able to afford to live in our city!
so we have, and in the 3 months since we agreed a price, asking prices have continued to rise in our area. its crazy.
i found this article from reuters. http://investing.reuters.co.uk/news/articleinv esting.aspx?type=allBreakingNews&*******=2007- 08-20T092230Z_01_L20091046_RTRIDST_0_BRITAIN-R IGHTMOVE-UPDATE-1.XML
it seems to say the inflation of prices will slow down but not the overall market, although some people believe if london slows everywhere does. i don't know, there's no point worrying about it too much as there's nowt we can do (spoken like a true 1st timer!)

[flyciderman]

8) The sub prime loan situation in America
9) The Credit Crunch
10) Northern Rock has support from the Bank of England

[flyciderman]

11) Many reports in the newspapers that prices are falling