Of natural concern to most people living in the UK (especially homeowners) is the subject of house prices and the possibility of a UK housing price crash; recently there has been considerable media speculation and debate leaving a somewhat mixed and divided opinion.
Recent figures announced by the Halifax mortgage lender together with other data, appear to suggest that UK house prices are already falling in certain parts of the country and that there are several regional variations. The falls to date however have been relatively small and the south appears to be most noticeably affected, especially around London and the South East. Also large parts of the Midlands have been affected and this is spreading northwards yet there are exceptions, with certain parts within specific regions also experiencing minor price rises.
In contrast house sales and prices further north appear to have recently slowed and to date there have been no real noticeable drop in prices; the slowdown however does seem to suggest a strong reason for suspecting that a price decline will shortly follow.
Most economists recognise that a house price fall is occurring although various opinions exist as to the scale of any possible future reduction.
A rapid decline in house prices is the definition of a “house price crash” and to date there is no indication that this will occur; there have however been several suggestions that the recent decline in sales and house prices is merely a temporary glitch and some media reports have even been described as “sensationalism and scare mongering”; the price falls have definitely been moderate and much more sporadic than widespread and some pundits consider that any further falls will be relatively slow & will involve a steady process.
There are others though who believe that we are at the start of a housing price crash, which could leave those who have recently chosen to invest with severe consequences.
For the many hundreds of thousands who have already invested in the UK housing market an underlying belief that house prices will continue to rise has existed; for many such a positive opinion has been greatly influenced by the UK's economic prosperity, for the past few years has resulted in an easy spending attitude that has been encouraged by a sustained period of low interest rates.
Is this about to change?
To read the rest of the article, click here
For more info, visit
www.reviewravers.com/index-real-estate.html
Recent figures announced by the Halifax mortgage lender together with other data, appear to suggest that UK house prices are already falling in certain parts of the country and that there are several regional variations. The falls to date however have been relatively small and the south appears to be most noticeably affected, especially around London and the South East. Also large parts of the Midlands have been affected and this is spreading northwards yet there are exceptions, with certain parts within specific regions also experiencing minor price rises.
In contrast house sales and prices further north appear to have recently slowed and to date there have been no real noticeable drop in prices; the slowdown however does seem to suggest a strong reason for suspecting that a price decline will shortly follow.
Most economists recognise that a house price fall is occurring although various opinions exist as to the scale of any possible future reduction.
A rapid decline in house prices is the definition of a “house price crash” and to date there is no indication that this will occur; there have however been several suggestions that the recent decline in sales and house prices is merely a temporary glitch and some media reports have even been described as “sensationalism and scare mongering”; the price falls have definitely been moderate and much more sporadic than widespread and some pundits consider that any further falls will be relatively slow & will involve a steady process.
There are others though who believe that we are at the start of a housing price crash, which could leave those who have recently chosen to invest with severe consequences.
For the many hundreds of thousands who have already invested in the UK housing market an underlying belief that house prices will continue to rise has existed; for many such a positive opinion has been greatly influenced by the UK's economic prosperity, for the past few years has resulted in an easy spending attitude that has been encouraged by a sustained period of low interest rates.
Is this about to change?
To read the rest of the article, click here
For more info, visit
www.reviewravers.com/index-real-estate.html
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