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UK Housing Market & The Recession

Right time to buy........Wrong time to sell


UK Housing Market & The Recession The UK housing market prices are falling at a much faster rate than they did during the last recession of the early 1990s. Understandably this is either beneficial or not depending on your circumstances. Fortunately for me a 22 year old male, this is good news it means I may be able to get on the property ladder providing I can get a mortgage. For people already owning their own home it is not all bad news as the prices are bound to return to what they have been over time. I for one have seen the prices soar ridiculously in the past 10 years, From my point of view a two bed maisonette in the middle of a council estate should never be worth £180,000, However that is exactly how much they have been selling for and i for one refused to pay out believing that eventually a recession was inevitable. The question I now face is when are the house prices going to be at there absolute lowest and do I stand to make a good deal of money if I buy a property and hang on to it till hopefully the house prices return? From the property sellers point of view I would not sell unless absolutely no other option is availiable. The UK housing market prices are bound to have fallen at least 8 percent by the end of the year 2008.

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