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Crash! Can't be true - it's in the express


sarahbell

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http://www.express.co.uk/life-style/property/845308/house-prices-property-for-sale-news

 

House prices: Property CRASH warning as houses in commuter towns fall in value

HOUSE PRICES are falling in commuter towns where buyers were thought to have made solid investments. However, now it seems that almost half of property for sale in places like Reading has been reduced in price.

 

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3 minutes ago, Frank Hovis said:

The biggest avalanche starts with a tumble of snow.

I own, on paper I will lose money, in reality I won't lose money.

I feel the same. My house has gone up massively. I have not gained a penny though as I need somewhere to live. It's academic. However, for young people trying to buy, the price does matter. The more they cost, the more they have to borrow.

house price crash?  Bring it on. 

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I just noticed the kicker at the end of the article:

 

Quote

Experts have warned that government needs to cut stamp duty to stop “UK’s legacy as a property-owning democracy is at risk of vanishing.”

 

Any idea what "UK's legacy as a property-owning democracy" is?  Other than young people paying exorbitant rents and being unable to buy of course.

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3 hours ago, Frank Hovis said:

I just noticed the kicker at the end of the article:

 

 

Any idea what "UK's legacy as a property-owning democracy" is?  Other than young people paying exorbitant rents and being unable to buy of course.

Well whatever it is, it's not as it was

https://www.theguardian.com/money/2017/mar/02/home-ownership-in-england-at-a-30-year-low-official-figures-show

The latest English Housing Survey, produced by the Department for Communities and Local Government (DCLG), found that of the estimated 22.8m households in England, 14.3m – or 62.9% – were owner-occupiers in 2015-16.

It stated that owner-occupation rates “remain unchanged for the third year in a row” – but Labour and others were quick to seize on an accompanying table, which showed that the rate had slipped from 63.6% the previous year. This is down from a peak of 70.9% in 2003 and is the lowest figure since 1985, when it was 62.4%.

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Well next door neighbour is moving overseas. Has put house up for rent, 7 weeks so far, still no tenant. 18 months ago family houses like these would be snapped up as very few come up for rent, there's a good number of them now, these aren't BTL properties, the housing market here is stalling so unless there is Govt intervention I'd say prices are going down and a good job too. 

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