housing market here in northern Ireland have come to a halt,
with interest rates having gone up, and house prices are set to take a tumble.
with this slide in the stock markets could this make the housing market even worse.
and if you can tell me have the house prices fallen in england , Scotland , and wales if so could you tell roughly by how much.
It has precious little to do with the stock market. Last week even the IMF forecast UK house prices could drop by as much as 40%…that’s their interpretation of UK’s over-inflated market.
Unfortunately, the areas which enjoyed the biggest growth in recent times will likely witness the biggest decline. So yes, get ready to seen a significant drop within the next 6 months and hope it’s not as big as 40%.
That said, if you’re not selling during this period, it really won’t matter in the long run. Real property is an excellent investment over time. Something like the stock exchange philosophy…buy near the low and sell just before the high.
Whatever your situation, wish you every success…
December 16th, 2009 at 1:47 am
London house prices are actually still rising. In the midlands they are falling slowly. I don’t think there will be a price crash in the UK.
As for the stock market I don’t see how it effects house prices directly.
References :
December 16th, 2009 at 2:04 am
It has precious little to do with the stock market. Last week even the IMF forecast UK house prices could drop by as much as 40%…that’s their interpretation of UK’s over-inflated market.
Unfortunately, the areas which enjoyed the biggest growth in recent times will likely witness the biggest decline. So yes, get ready to seen a significant drop within the next 6 months and hope it’s not as big as 40%.
That said, if you’re not selling during this period, it really won’t matter in the long run. Real property is an excellent investment over time. Something like the stock exchange philosophy…buy near the low and sell just before the high.
Whatever your situation, wish you every success…
References :
20+ years international property investing