| Topic: | Re:Re:Re:Re:Re:Re:Re:Re:Property sales | |
| Posted by: | Iain Muir | |
| Date/Time: | 19/03/08 22:44:00 |
| House prices.........nothing new if you remember the slump of 89/93. My first home in London was a house share in a run down semi in Airedale Ave in 1975. It was on sale (by Executors) for £16,500, I was tempted but only earnt £2k at the time, c.£1m now? The house I currently occupy was bought for £210k in 1991 and sold to me in 1994 for £155k An article on BBC News today by Evan Davies suggests "that housing market cycles last eleven years, while our memories last nine. There is always a two year silly frenzy that has to be undone." (http://www.bbc.co.uk/blogs/thereporters/evandavis/) As another poster said Chiswick will always be expensive, it ticks all the right boxes. My view is that there will be a small correction to the market, but no real falls, underlying demand and scarcity, especially in London, will rule. Glad I did not buy an overpriced, 'discounted' off plan BTL flat in Leeds, Manchester or Nottingham though! Discuss..... |