Property predictions best guess

fcuk knows, but at this rate, we may never get supply to where it needs to be, its a major clusterfcuk, and nobody knows what to do about it. purchasing is a risk at anytime, take the plunge when you can, and hope for the best, nobody knows what ll happen next, no matter what they say!

Any contraction will hopefully slow the rate of increase but, personally, I don't see the price dropping. Too much pent up demand.

I haven't a scooby doo what will happen over the next few years, but what you are saying now seems very similar to what nearly all economists were saying in 2005/2006. I bought in 2006 & 2007 and they are only back to those values this year. I'm not saying you are wrong but tis almost impossible to predict what will happen. The only advice I can give is not to borrow the max amount you are eligible for, interest rates are only going one way.

...i better buy as much and as fast as possible then!

Any contraction when it does come, won't be anything close to what we saw last time. The same conditions aren't there.

Ultimately if you're looking at buying a house to live in for 20 years, the current prices are mostly irrelevant. If you can afford the mortgage repayments, then the current value of the house doesn't matter. It's impossible to say where any of us will be in 20 years, but the key is whether you could live in it that long. If you buy a place thinking, "It's grand, but I'll have to trade up in 3 years", then you're going wrong. "I might like to trade up in a few years, but I could live here for 2 decades" is a better place to be.

Lots of people would have scoffed at the prices in 2006, told people they were mad to buy. By 2012 they'd have been patting themselves on the back and saying they were dead right. And now in 2022, the prices are back where they were.

Someone who bought at a big price in 2006 and hasn't moved, is doing just fine. They've had a comfortable stable home for 16 years. While the people scoffing about prices have spent those 16 years stressing about where and how they're going to find somewhere to live.

Something very big is coming down the line.

The entire economic model of the west is reaching it's conclusion. It just doesn't work.

In this country, there were 800 odd places to rent a week or so ago, everything from single bedrooms to entire homes. 800, for a nation. Personal and social mobility has ground to a halt, with no letup in sight.

Government paying taxpayer money in the order of 400k+ for a social home.

Investment firms taking up large swathes of housing off plans to rent at max.

One million extra migrants needed by 2050 just to sustain current pensions, never mind future pensions.

Multinational companies paying fractional tax in avoidance, hiring people from abroad to work from abroad after having brought huge amounts of migrants into a housing crisis already.

Fictional ideas of building enough housing to house ever-increasing amounts of people to prop up failing systems.

In short, a pyramid scheme. It was always going to fail, and what we are seeing now are the fruits of that failure. Utterly unsustainable right now, forgetting the future.

What happens next is anyone's guess, but it is 100% guaranteed imo that the current system is over. This goes beyond a simple recession or retraction, this time next year it's going to be a crazy world.

Nobody knows what's coming down the line - anyone who does is talking out of their hole. The people who 'called' the last one were just guessing as well. Even the normal cycle of capitalism (growth/crash/retraction/growth) might not be playing out this time, as governments seem to have a different way of approaching debt.

If you can afford to buy and it makes sense for what you have planned for the next two decades or so, then go for it - although I wouldn't be buying for investment purposes myself. Another thing to take into account for those looking at 2012 prices: the bottoming-out took a good 3/4 years, and many people still couldn't afford to buy because either they didn't have jobs or the banks wouldn't lend to them, even if they did have jobs.

Oh it was 900 instead of 800. Thank goodness for that, we almost had a housing crisis there for a second.

You say house prices will "invariably" increase. Really? So there is literally no upper limit?

That's the ridiculous mindset always attached to pyramid schemes.

And as for employment being far more important, what good is employment if you can't afford accommodation? One is a prerequisite for the other.

Actually looking at the bigger picture and reality for a sec, just that one element, that one million more migrants are needed to sustain current pensions by 2050. Where are they going to live? Who will pay their pensions?

A lot of people are smoking crack cocaine when they look at the current state of things and think "yeah, this is a minor bump on the road to ad infinitum growth."

A snapshot right now shows practically ever metric of the economy/housing situation is in deep, deep doo do. Right now. Not from transient elements like building costs, but deeply ingrained, deeply flawed policies that have been allowed fester for more than a decade. Emergency drops of lupilu nappies will be needed when people wake up.

Oh it was 900 instead of 800. Thank goodness for that, we almost had a housing crisis there for a second.

You missed the point, but that's okay, there was also 15,000+ properties for sale on the same site, it's a sellers markets at the minute so that will also have a negative effect on available rentals.

You say house prices will "invariably" increase. Really? So there is literally no upper limit?

You seem surprised by this? 😕

Everything invariably will rise in price given the passage of time. It's the rate of increase that fluctuates.

I don't know when the last time you went for a pint was, but it's longer 6d.

Property prices will plummet.

Why? Not because the demand isn't there, only because the demand can't get cash to buy a house.

So waiting for prices to crash is a mugs game, since you may not be able to buy a house when the time comes, unless you're sitting on a few hundred k.

I'd say this time next year, if things keep apace. Yeah I could well be wrong. I'm not particularly fussed about being mystic meg.

The thing is this, it's not about predicting the future. It's about recognising the current state of things, and it is more than fair to say that things are broken beyond belief. I named a few of them above.

I'm not predicting a recession, I'm expecting a complete economic realignment of some sort. Chaos first, of course. For the simple reason that now, as things have been building up to now, it cannot last. It's chronic.

What's the solution porkmaster?

Let me get a pen. Go!

Down a road they own and that they can extend indefinitely. I'm old enough to be hearing the same thing for decades, so please trust me, nothing is gonna happen. It will carry on forever with the occasional stumble and rearrangement, as it was until now.