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The Chillout Room
House Prices Drop - 14.6% in the year
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<blockquote data-quote="Sheikh Yerbouti" data-source="post: 739510" data-attributes="member: 9093"><p>Bizarrely, I was out drinking tonight with a mate who works for a big property management company in town. He was saying there's been nothing doing in the housing market for a while now, but the last couple of weeks things have slowly started to turn over again.</p><p></p><p>i know a lot of banks are re-evaluating their variable rate product lines at the minute too, so expect a raft of new mortgage deals to start becoming available over the next few weeks. that should add some impetus to the market.</p><p></p><p>how long it will last is anybody's guess. i'm hearing everything from a year to ten years at the other end of the scale. it all depends who you ask. my own view is that providing there are no more disasters on the horizon, xmas & Q1 of the new year are traditionally very quiet for the housing market, but with a bit of luck things will stabilise, and come april/may time next year the housing market will start moving again. it'll be a long time until things get back to where they were 2 years ago... if in fact they ever do, which may be no bad thing.</p><p></p><p>but for every person who welcomes the market re-adjustment, there are also those of us who are really suffering. it's not just people who bought badly who are having a hard time.</p></blockquote><p></p>
[QUOTE="Sheikh Yerbouti, post: 739510, member: 9093"] Bizarrely, I was out drinking tonight with a mate who works for a big property management company in town. He was saying there's been nothing doing in the housing market for a while now, but the last couple of weeks things have slowly started to turn over again. i know a lot of banks are re-evaluating their variable rate product lines at the minute too, so expect a raft of new mortgage deals to start becoming available over the next few weeks. that should add some impetus to the market. how long it will last is anybody's guess. i'm hearing everything from a year to ten years at the other end of the scale. it all depends who you ask. my own view is that providing there are no more disasters on the horizon, xmas & Q1 of the new year are traditionally very quiet for the housing market, but with a bit of luck things will stabilise, and come april/may time next year the housing market will start moving again. it'll be a long time until things get back to where they were 2 years ago... if in fact they ever do, which may be no bad thing. but for every person who welcomes the market re-adjustment, there are also those of us who are really suffering. it's not just people who bought badly who are having a hard time. [/QUOTE]
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House Prices Drop - 14.6% in the year
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