End of the house price boom?

  realist 17:18 14 Sep 2007

US sneezes....

Northern Rock cap in hand to Bank of England....

HIP's likely to deter some sellers coming to the market....

Uncertainty over interest rates undermining buyer confidence....

Money will be moving away from property into gilts....

  Forum Editor 17:25 14 Sep 2007

and there's no doubt that house prices are beginning to level off. Property is still a good investment however - that's not going to change.

  simonjary 17:34 14 Sep 2007
  Forum Editor 17:55 14 Sep 2007

It's certainly a thought.

I've been contemplating a move in the not too-distant future, and I certainly wouldn't go anywhere unless I'm guaranteed a fast connection.

  Cymro. 18:06 14 Sep 2007

I would have thought that for house prices to level off is a good thing as long as it does not turn in to negative equity as there was a few years ago.

It must be very difficult for a young couple to get a start on the property ladder these days.

I doubt very much even if house prices drop even further that anyone will loose out in the long run. It is very hard to loose money on a house even when prices are falling as they are sure to rise again sooner or latter.

  Forum Editor 19:28 14 Sep 2007

is the big worry - expect to hear it being mentioned in the media in the not too distant future.

  mrwoowoo 20:31 14 Sep 2007

Bought my first house in 1989 at the height of the property boom for £53,000.
Two years later it was worth £38,000.
I think that qualifies as negative equity.

  freaky 20:50 14 Sep 2007

Anyone thinking of buying/selling a house in current conditions needs to be careful, especially if a mortgage is required.

At present Cash is King !

  Bapou 23:40 14 Sep 2007

Northern Rock ask savers not to panic:
click here

There were queues at branches but I did not join it. My Northern Rock account contains £3.40, after whittling it down over a long period after our local branch closed. No need for me to panic!

Property sales appear to have slowed here in our corner of Northumberland recently. Apart from bungalows, they seem to still sell quickly.

  wiz-king 07:14 15 Sep 2007

Only if you sold it at that price! If you kept it for a few years after that it would have regained its value and you would have had the use of it for those years and not lost anything.

  GANDALF <|:-)> 07:53 15 Sep 2007

Nursing homes for the elderly cost each resident around £40k/year. This will soon eat away any value of a house especially if a married couple need care.


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