nationwide reports UK house prices down by 0.4% in April. No green shoots in the growing season then?
http://www.nationwide.co.uk/hp...torical/Apr_2009.pdf
http://www.nationwide.co.uk/hp...torical/Apr_2009.pdf
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Graphs look like they are bottoming out though! 
Noone can afford them anyway
In Norwich City Centre they built lots of flats with asking prices of over ÂĢ120,000. What the developers failed to realise (and this applied to the rest of the UK as well) is there is a limit of peeps earning over ÂĢ30,000 a year, to be able to take out a mortgage to buy such a property.
Sadly, the developers are reluctant to drop their asking prices to levels that young singles and couples can afford. This means that these places will be left empty while the levels of repos rise.
Sadly, the developers are reluctant to drop their asking prices to levels that young singles and couples can afford. This means that these places will be left empty while the levels of repos rise.
quote:
I'm already a member!
I love laughing at the overpiced 'slaveboxes' 
prices are still too high. cash buyers and prop.developers market.
to get mortgage in 80/90's = 20/80% dep/mortgage = house prices comparable level to wages.
apply same criteria to todays prices, including stricter lending and squeeky clean credit scoring...
to get mortgage in 80/90's = 20/80% dep/mortgage = house prices comparable level to wages.
apply same criteria to todays prices, including stricter lending and squeeky clean credit scoring...