nunheadbelle Posted January 2, 2009 Share Posted January 2, 2009 As predicted, house prices are still falling; good news for those who can afford to put down 15%, 25%, 40% deposit for a mortgage, still not good enough news for those who can't.House prices at 2004 level Link to comment https://www.eastdulwichforum.co.uk/topic/4838-house-prices-fall-to-2004-level/ Share on other sites More sharing options...
tommyt Posted January 4, 2009 Share Posted January 4, 2009 I guess the key is when will they stop falling.My feeling at the moment is that a 2 bed garden flat in ED costs2007: ?320k2008: ?275k2009: ?250k2010: ???And it is the uncertainty of what prices will be in 2010 and 2011 that is worrying people.If you look at the rental yield they should probably be worth ?220k, but if people are getting amde redundant and unwilling ot pay as much rent (I think rent has gone down in ED recently) then they are only really worth what people can and are willing to pay and we simply dont know waht that figure is........ Link to comment https://www.eastdulwichforum.co.uk/topic/4838-house-prices-fall-to-2004-level/#findComment-156103 Share on other sites More sharing options...
karter Posted January 4, 2009 Share Posted January 4, 2009 To fill in the blank...2010: ?210? Link to comment https://www.eastdulwichforum.co.uk/topic/4838-house-prices-fall-to-2004-level/#findComment-156119 Share on other sites More sharing options...
brash Posted January 4, 2009 Share Posted January 4, 2009 ?210? Hopefully less! The sooner people stop using property as a cash machine, the better for all. Link to comment https://www.eastdulwichforum.co.uk/topic/4838-house-prices-fall-to-2004-level/#findComment-156121 Share on other sites More sharing options...
Pagey Posted January 4, 2009 Share Posted January 4, 2009 I think the average price is very misleading due to the smaller number of sales , this distorts the figure. Some properties in the UK may drop to or are at 2004 levels, but the figures vary tremendously by borough to borough. New builds will take a big knock due to over supply and they're over priced.Southwark flat prices have stood up well, in fact saw an increase of 6.8% for the last quarter . Some boroughs have seen a reduction of 20%_ e.g. Barnet. You can check out the % price change by type of property by borough at:http://news.bbc.co.uk/1/hi/business/7807724.stm Link to comment https://www.eastdulwichforum.co.uk/topic/4838-house-prices-fall-to-2004-level/#findComment-156138 Share on other sites More sharing options...
louisiana Posted January 4, 2009 Share Posted January 4, 2009 Things to get worse in the US, according to this CBS 60 minutes video:http://www.cbsnews.com/video/watch/?id=4668112nApparently sub-prime was only the half of it. Link to comment https://www.eastdulwichforum.co.uk/topic/4838-house-prices-fall-to-2004-level/#findComment-156153 Share on other sites More sharing options...
matthew123 Posted January 5, 2009 Share Posted January 5, 2009 I'd imagine that properties that are 20 minute walk to tube or train station will fall faster than properties only 5 minutes walk, similarly ex-local authority will be hit harder than victorian builds etc. One thing you can guarentee about the media they'll always report the extreme end.Anyway Pagey that BBC link does no breakdown? Link to comment https://www.eastdulwichforum.co.uk/topic/4838-house-prices-fall-to-2004-level/#findComment-156227 Share on other sites More sharing options...
Pagey Posted January 5, 2009 Share Posted January 5, 2009 Matthew123, BBC link, enter post code, then select the Borough and then click on the tab for flat, terraced etc to get the breakdown Link to comment https://www.eastdulwichforum.co.uk/topic/4838-house-prices-fall-to-2004-level/#findComment-156312 Share on other sites More sharing options...
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