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Will house prices crash in the next year??

I've been hearing to expect house prices to crash and simultaneous interest rate hikes, is this the case? Tell me what you think the economic forecase is looking like for the UK housing market.

Asked on Jul 10 2014, House Prices in London | Report content

Answers (3)

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  • Nothing is certain, your guess is as good as mine. My opinion: in as far as anyone can control what happens prices will be level off as we approach the election next year. Interest rates will begin to rise soon. London prices are currently ahead of their long-term (20 year) trend,they would have to be flat for two years to go below that trend. Central London prices have risen sixfold since 1995, and my little flat will now fetch a dozen times what I paid in 1985. Elsewhere, ignore Gordon's Boom & Bust and distrust what is said about 'prices are rising', prices have been more or less flat for a decade. The London effect overspills to commuter towns and nice places for weekend cottages, but no further. The trend for London over nearly twenty years is near enough a steadily rising straight line. After a pause I expect this to continue. Elsewhere my best guess for the next five years and beyond is for things to be neither up nor down.

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    Answered on Jul 11 2014, Report content
  • It is inconceivable that price rises can continue in a market that is so stretched that it is setting alarm bells off everywhere. It is a certainty that London is in property bubble, and bubbles always burst. Choices are stark. It is a bad time to buy, and if you are thinking of selling, now would be a good time but price your house realistically.

    Answered on Aug 7 2014, Report content
  • If you live or work in and around London especially Canary wharf and surrounding areas i.e.the Silvertown Quays and the likes you can see all the new projects being carried out there is no way prices will drop in fact I would not be surprised if there was not double digit gains for a few years yet

    Answered on Aug 27 2014, Report content

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