When do you expect to see the "green shoots" of life in the UK property market?

[davidoff1]

Very hard to say as we are in uncharted territory with the defecit of housing supply vs. demand pointing to an increase in prices. Conversely, affordability indexes show we are still above long term averages, in past corrections affordability indexes have fallen below their averages before recovering. When interest rates rise this will hit the benchmark affordability index of mortgage payments as a percentage of pay.

Like I said, difficult one to call but with the state of the economy the way it is I'll go with 2013 for things to really start improving.

 

[Luke Owen]

Good poll. I guess it all rests in lending?

 

[madison85]

I agree with some comments above i dont think the uk property market will recover untill the end of 2012, mainly blamed on restrictive mortgage conditions making it extremely difficult especially for first time home buyers.

 

[RKnight]

Slowly but surely, banks are increasing their lending and the choice of mortgages available. This will lead to more people buying houses and finally lead to the green shoots of life springing in the market.

A bit difficult to say exactly when this will happen though. I still remember someone mentioning that prices will rise again, why? because people are greedy and we all want more and more.

 

[sittingtenantman]

I reckon the property market will pick up in 2016

 

[AMSNZ]

This poll was started 3 years ago..... so it interesting to see what people thought would happen to house prices in the UK in 2009.

 

[emilycole]

Since I am looking to move soon and I have been scarping any sort of information for a way to see if it's in my benefit to sell and move now or wait.

I was reading this article stating that " the upcoming end of the stamp duty holiday on 24 March "has certainly been a factor, but its impact will of course only be temporary".

“For four years, most of those moving were people who had to do so. Many “discretionary” movers were put off by fears of a second property crash. The coiled spring of anticipation is slowly beginning to unwind as more would-be buyers see buoyancy return to the market.”

Do people believe that these changes are temporary, and are these times rather hopeful than not. There seems to be alternatives to spending a lot, like using online estate agents and such to save money.

What does everyone think?

 

[bmar71n]

i think the olympics will have very little affect on anything, it may temporarily have a positive affect on rental prices around the olympic village, but that is all

 

[Jessica Brown]

Get realistic

People need to get realistic about the UK property market. The dizzying heights of prices and demand that was seen in 2007 was just that...a dizzying height. For a property market to see comfortable growth it needs a gradual incline rather than a steep one. The London property market is somewhat a good microcosm of what a healthy market should look like, yet this is at the high-end of the market. Buyers will not show confidence until the headlines stop saying 'recession' and 'financial crisis'. Therefore it will take about two years for the market to start seeing some substantial growth. Unless the government can introduce incentives that will see movement happening at the bottom end of the market again.

 

[Propertyjunkie]

I've given up on the idea of the UK property market improving. It's going to get to a point where people can't afford to buy anywhere until they are into their 40's. Not good.

 

[Jessica Brown]

Buying

I am aware of people who have purchased a home in France because it is much more affordable and they are renting it out to pay their own rent in London and their mortgage. While I have not seen their financial records they say it is working well for them and they used it as a way to get on the property ladder.

 

[Jessica Brown]

Property market

Currently the overall forecast from most experts is a steady market until Christmas. A small rise and a small fall here and there in terms of prices but steady. This means by next year after a strong patch there will be opportunity for a rise. In terms of buy-to-let rents have started to experience a drop but this is nothing in comparison to the dizzying price increases of last year. The estate agents at Haart property are quoted in this article <snip> as having a similar opinion about the steadying market.

 

[jeffdjevdet]

I think this will take another year or so but it is something that is impossible to predict, but it is always possible to find a good deal!

what do people think of the effect the Olympics will have?

I think rental prices will spike during the Olympics but not much else.

 

[JustinBarley]

I think this will take another year or so but it is something that is impossible to predict, but it is always possible to find a good deal!

Another year at least! I might be looking a bit on the dark side but as I see it things will only get worse.
P.S I stand to be corrected.

 

[jeffdjevdet]

Another year at least! I might be looking a bit on the dark side but as I see it things will only get worse.
P.S I stand to be corrected.

It is impossible to predict, but you could be right!

 

[cesc]

Long way to go yet...

As we saw with the Chancellor's Autumn Statement yesterday, the general economy is not in a good shape at all and has a long way to go before arresting the downturn. In terms of property market, I wouldn't be surprised if 2013 sees property prices fall further before perhaps showing some signs of recovery in mid-2014.

 

[AMSNZ]

i think the olympics will have very little affect on anything, it may temporarily have a positive affect on rental prices around the olympic village, but that is all

Yep the Rugby World Cup did very little for the New Zealand in the same regard. Tourism is up slightly after the event which was nice, but the long term benefits are minimal.

 

[John Ma]

i think never as long as the population increases exponentially haha. but fingers crossed im wrong

 

[Daril]

I think there will be a recovery in 1-2 years. Have in mind that the Economy is continuing to grow.

 

[UmAlam]

I vote for not sure about it because the poll i think so was made in 2009 4 years back but UK is still struggling for a recovery and some of the experts predict that UK is recovering as the growth has being doubled in gait and strongest in the past several years. So best of luck UK...