UK housing market falling faster than last recession, says Bellway - Telegraph

Discussion in 'UK Property' started by Damian George, Jun 6, 2008.

  1. Olly

    Olly New Member

    Rishek, Hi

    First, wish you and your wife every success for your future employment & lifestyle.

    Second, suggest you check: Rightmove - UK's number one property website for properties for sale and to rent to see what might meet your price options and, second, visit: unbiased.co.uk and using the postcode for your new employers offices or, one from the homes on RightMove, find an Independent Financial Adviser. You can select one who will work on commission or by fees.

    These guys will be able to provide you unbiased, 'sound' advice taking your present situation into full account also.

    Again, wish you every success...

    Olly
     
  2. artursw

    artursw New Member

    Wait, keep you deposit in your pocket (cash in king now) once people panic and start selling cheaply. People go mead because of media, don't, read, listen just calculate, observe real statistics, factors.
     
  3. UKand Singapore

    UKand Singapore New Member

    I think we have all experienced that it is impossible to catch the bottom of any down turn, property or otherwise.....unless by pure luck.

    I understand your point, but the key is actually being able to buy at a price point that make sense economically, allows for maybe some further down turn, but with cash-flow, yield and capital gain calculation, actually makes financial sense in the term of investment you are looking at.

    One man's meat is another man's poison (although of course we all want the best cut at the best possible price!).
     
  4. Prop-erty

    Prop-erty New Member

    Now in the New Year, what are everyone's predictions on this?
     
  5. zanis

    zanis New Member

    UK Recession May Be the Steepest in over 20 Years

    Another article here on the UK recession - click here
     
  6. web2dude

    web2dude New Member

    I think we're being overly optimistic if we think the market has bottomed out. Think beginning of 2010, rather than 2009 if I were you. There are lots of people wanting to offload houses and the market is still declining. It's all speculation, but I reckon, 10% less, followed by a year of no growth is realistic! Doom and gloom
     
  7. Hot Key

    Hot Key New Member

    The amount of deposit for first-time buyers is now about 18% - the largest in 35 years. Wow.
     
  8. zanis

    zanis New Member

    Repossessions in the UK jump 92%

    UK like the USA will be in a world of pain this year (2009) - if you read the media reports this recession is a big one. Some even forecast that we will not recover until 2015! Though I have to think the media helps to make a bad situation even worse!

    Here is another good article here on the UK recession - click here..
     
  9. ComRoute

    ComRoute New Member

    It's not all doom and gloom now though, since the interest rates have fallen.
     
  10. web2dude

    web2dude New Member

    Yes, let's look on the bright side. In about 9 months will be when the market starts to bottom out....
     
  11. Damian George

    Damian George New Member

    Hi All

    More bad news

    Britain saw some of the steepest house price falls in the world last year, collapsing by 14.7 per cent, with only Latvia performing worse, research from Knight Frank shows, the Independent reports. More than three-quarters of the 42 countries surveyed recorded falls in the value of property in the final quarter of 2008, compared with just 27 per cent in 2007, the paper says.
     
  12. Damian George

    Damian George New Member

    Oh - i forgot even more bad news

    Economists at PricewaterhouseCoopers are warning UK companies to prepare for a 5pc fall in gross domestic product this year, a much bigger contraction than the Treasury's official forecast, the Telegraph reports. A report published today predicts that a deep recession will persist throughout 2009 and into early 2010 as a result of rising unemployment, falling house prices, lack of credit availability and slowing global growth. PwC says that although its central projection is for a 3.25pc fall in GDP in 2009, an even bigger contraction is possible because of the current level of economic uncertainty, the Telegraph notes.

    UK - The Government is on the verge of increasing its stake in Lloyds Banking Group from 43 per cent to about 60 per cent, the Times reports. The deal would see Lloyds "insure" assets worth up to stg 250 billion in the Government's Asset Protection Scheme, the paper says.
     
  13. Prop-erty

    Prop-erty New Member

    So does that mean that the UK government now rules most of the banks, rules most of the world via finances or is at risk of collapse?

    What do you guys and girls think?
     
  14. Prop-erty

    Prop-erty New Member

    In the 90's and nineties, property prices fell steeply in the UK too. Realistically, prices before the fall were way too high.

    Just before this time, property owners were dressing up their properties very cosmetically, what with all those property shows on TV, then selling them for way over what the places were worth. So something like this is bound to happen. The higher you rise, the steeper the fall. The only thing that surprises me is that so many are surprised this has happened.
     
  15. Damian George

    Damian George New Member

    agreed - My view is here is that we have another 20-30% to go - reason

    a)banks are looking to repay savers and the govt so they can pay themselves bonuses
    b)banks not willing to lend as they see the market failling further
    c)job losses havent even started


    i was supprised to see this level but now 6mths into this mess cant see a way out
     
  16. tomas123

    tomas123 New Member

    Is the british pound coming to an end

    Are we going to loose all our pounds?
     
  17. Damian George

    Damian George New Member

  18. Prop-erty

    Prop-erty New Member

    I am losing out with a personal investment because of the £ vs the $. Dramatic change in just one year. Still making money but just about.
     
  19. briteways_dot_com

    briteways_dot_com New Member

    There are bound to be some opportunities to make money in the present climate. we will just have to change the way we work.
     
  20. Damian George

    Damian George New Member

    Hi Property,

    if you need help sending pounds to us dollars let me know - i have helped a few people in this forum get the best exchange rates.

    The Pound though has popped back above 1.4500 and as long as it stays there there is every chance that it will go back above 1.5000 (at least)
     
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