James
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Registered: 1st Jun 02
Location: Surrey
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Do you think house prices are going to crash any time soon?
I dont understand the economy enough to have a valid opinion but I was wondering what others thought.
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whitter45
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Registered: 15th Nov 02
Location: Norton
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no if anyhting they will increase only slightly as demand is much higher then supply at present
the interest rate rise was done to reduce the increase in house prices and to encourage saving
They will not go down IMO but I may be wrong
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Colin
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Registered: 4th Apr 02
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Nah, the speed that they get snapped up around here I dont think they will ever crash......its out of control!!!
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Colin
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Registered: 4th Apr 02
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Although with interest rates going up you might find that some of the more expensive houses will drop in price, once folk cant manage the mortgage & need to get out quick!!
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topshot_2k
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Registered: 1st Dec 03
Location: Northampton Drives: Pug GTi-6
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wont crash 
Demand is still huge here, most 2 beds are gone in a week and i know many of my mates/work mates all looking but cant get any.
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Matt H
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Registered: 11th Sep 01
Location: South Yorkshire
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IT happened a few years back did it not?
The type of thing that would cause it would be home owners that can no longer afford to own a home
Eg
Mr x buys a house. Has 1k coming in a month & £750 going out for house & bill payments
Bills gradually go up along with interest rates
Creeps up from £750 to £850, £950 £1050 etc etc
He can no longer afford to own the house & it gets repossesed. Foobarred for money & bad credit rating
Imagine that on a grander scale. Lots of peoples houses up for sale. More on the market - lower the prices
Well, sort of like that anyway
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corb
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Registered: 24th Apr 02
Location: Calgary, Alberta, Canada
User status: Online
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New law comes out in the next few weeks re. having to have some survey done on the house before sale. LOTS of houses will have to be taken off sale as they havent got this done. When that happens, house prices, in theory, will rocket. Maybe they'll stay up after that point, maybe they'll drop back down once people get their surveys done and market has properties back up for sale again.
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AK
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Registered: 5th Jul 00
Location: Aberdeen City
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With the interests rates set to rise by quite a lot, it could be that some people hold off buying just now as they simply won't be able to afford the increase in mortgage monthly payments.
I doubt it though....
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Bram
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Registered: 25th Mar 02
Location: Derby
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Have property prices ever crashed? No
Are they likely to crash? No 
Part ownership scheme looks like the only way for me to invest
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James
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Registered: 1st Jun 02
Location: Surrey
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quote:
Originally posted by Bram
Have property prices ever crashed? No
Are they likely to crash? No
Part ownership scheme looks like the only way for me to invest
I looked into part ownership stuff, there are hardly any properties available that offer it and you will be lucky to be applicable.
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Colin
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Registered: 4th Apr 02
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If there is a crash it will only effect the top end of the market, with the chance lower cost housing will go up!!
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Jules S
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Registered: 24th Dec 03
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quote:
Originally posted by Bram
Have property prices ever crashed? No
Are they likely to crash? No
Google 'negative equity' and learn a BIG lesson
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Colin
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Registered: 4th Apr 02
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But Jules, like I said, its only going to really affect the top end of the market, & I think will have an adverse reaction on the bottom end!!
House prices as a whole will not go down!!
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Ian
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Registered: 28th Aug 99
Location: Liverpool
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It will affect those people without much equity in the house, ie. first time buyers or those who have mortgaged up to the value of the property.
This isn't the top of the market - if anything its the other end, plus any house where the owners haven't been so frugal on the secured borrowing.
Interest rates increasing will certainly mean people sell houses, no question of it. Perhaps not as many people as in the past when the rates went crazy and therefore supply very high but it will definately reduce prices if rates rise.
[Edited on 18-04-2007 by Ian]
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topshot_2k
Banned
Registered: 1st Dec 03
Location: Northampton Drives: Pug GTi-6
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higher interest rates are only affecting the people buying 3-4-5 bed houses, first time buyers looking/buying over the last few months has crept up even though interest rates have risen.
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--Dave--
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Registered: 17th Feb 04
Location: Essssseeeeex Drives: Black Supra TT
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i don't think their will ever be a 'crash' as such. House prices will continue to rise (albeit at different rates) for the forseeable future imo.
Purchased my place for £157k Dec 2005. Valued at £173k and sold 2 days later. Estate agents said we could of easily got £175k+
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mwg
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Registered: 19th Feb 04
Location: South Lakes
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I wish they would crash. Not a hope in hell of buying a house anytime soon
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mav
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Registered: 19th Jun 01
Location: Scotland
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I can't see prices crashing and will continue to rise but maybe not at such a rate we have seen over the last 5 years...
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AK
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Registered: 5th Jul 00
Location: Aberdeen City
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house prices have crashed in the past.
and they will again in certain areas.... other areas are much more stable though.
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Ally
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Registered: 2nd Jul 03
Location: Pontypool Drives: a Skoda
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Been talks of crashes for ages but i cant see it happening, not in my area anyway when the houses are quite cheap
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Colin
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Registered: 4th Apr 02
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quote:
Originally posted by AK
house prices have crashed in the past.
and they will again in certain areas.... other areas are much more stable though.
House prices in Dundee & Aberdeen are up 20% on the 1st 1/4 of 2006 
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Twiggy
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Registered: 15th Oct 04
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anymore opinions 12mths on?
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Colin
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Registered: 4th Apr 02
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Apparently Englands housing boom has slowed right down, Scotlands still moving upwards as per previous years & reposessions have doubled on 12 months ago.
Things are going to remain grim until the banks recover, until then prices ar going to remain static, less people will be buying & this will have a knock on effect. Its probably a good time to pick up a bargain if your in the right place at the right time & have some capital.
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John
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Registered: 30th Jun 03
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Talks of price crashes are generated solely by the media.
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Colin
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Registered: 4th Apr 02
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Yep the media has control of everything!!
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