Boomed! Property boom back on!

[BrilloPad]

Rubbish article. The market has another 20% to drop. Typical estate agent propaganda. Put your money in ING and B&B for a couple years, then buy the derelict house for 30,000 quid from the prat who paid 50,000 for it (after he's evicted the squatters).

13% so far - I reckon it will be 50% from peak to trough....

[Liability]

the article is not that bad tbh

Over the 5-10 years you will, in majority of cases, make money but Id say that by August we should see price falls of a further 10-15% than maybe consider buying.

[Stan.goodvibes]

13% so far - I reckon it will be 50% from peak to trough....

Sometime last year I read an article that stated for property to get back to the historical level of around 3.5 x yearly income, the market would have to drop about 60% (can't remember the exact figures) or wages would have to rise by about 86%.

When I arrived in the UK in June 1995 pretty well every house in the street was for sale, no-one had been buying for about 5 years, and it took cashback incentives and about 2% off the base interest rate for 2 years before the market started again.

This property down cycle has the very likely potential to be worse than the late 80s one.