People talk about a return to normal; this IS normal and will be for the next 5 years or so. The world will be paying back debt – in that situation assets will keep falling in value and the economy will drag along the bottom.
So….how do you explain that Uk House prices rose by 2.6%, as reported by the Halifax this morning?
I think confidence is returning fast.
I do not think there is any confidence returning.
Just that some people might have gotten tired of waiting and they might have found the right property.
I just had an offer accepted at 28% below the 2007 price at 50 metres from my
children school (and less than 600 metres from the Grammar School they are likely to attend in 6 years from now). I pay cash so no mortgage involved.
I could have waited another year but there is no guarantee that a similar property would have appeared on the market. Like me there are many, life does not stand still.
Now, a holiday home is a completely different story, I have all the time in the world to wait for one at the right price in the right place.