| Topic: | Re:Re:Re:Re:Re:Re:Re:Re:Property sales | |
| Posted by: | Paul Pryce | |
| Date/Time: | 20/03/08 10:17:00 |
| Emily is right that prices are higher than a year ago - they have risen quite considerably according to the Land Registry figures published on this site and even allowing for the time lag they would have to fall quite sharply to be at the level they were 12 months ago. This is not to say that they will never fall. Virtually every measure of the property market e.g. yield, affordability shows it being historically extremely expensive. There are all sorts of indications that we are in the middle of a property market bubble most tellingly people telling us that prices will never fall. Anecdotally, there seems to be a large number of people in the local area with a significant exposure to buy to let who have a very limited experience of the market and have invest with a similar philosophy to Emily. When prices do start coming down these are the people who are going to have to sell. |