What do you think will happen property prices.

[Laineymc7]

We recently sold our two bed flat. It wasn’t big enough for the 4 of us. We are now sending a house so everyone has their own rooms which is great. We have the deposit for a new place

Where abouts without being too specific are you JoJo?

You wouldn't get a house for that in Brixton on Streatham, so it's flat or live somewhere else I guess.

And yet a lot of people seem to do so...

This is the key eh? As long as people have the money they do.

Stars, I’m in SM2 - like my peace and quiet ;)

JoJoSM2

I personally wouldn’t put the amenities, quality of primary schools (I think Brixton has an amazing one) & transport links of Brixton/Streatham on par with Mitcham.

The majority of people who can pay 500k + will likely need good transport links/schools to fit their lifestyle.

I think far too much property is over priced including my own, Wandsworth has seen some massive drops as already mentioned.

Carshalton/Sutton/Bexley are the few remaining reasonable places it seems.

What do you all think will happen to house prices in the north? Everything seems centred around London.

Still bananas where I am in Wales, going over asking selling in days etc.

Prices are dropping in London. We are currently selling our house (outer London) and it was valued at 50k more last year. On our street houses used to sell after a couple of days and now it's taking a lot longer, sometimes months. Annoying but on the other hand we can afford more for our money now as well.

WhyBeDennyDifferent

I think they well rise. I think more young people will head to other cities sidestepping London. Out of my circle one family has moved to Surrey (the traditional destination. Others have gone to Edinburgh, Bristol, Birmingham & Manchester.

I’m watching the market closely. In Manchester. In a position to buy but there do seem to be a lot more articles around now predicting a price correction. I think we will give it 6 months and see what happens. Even if prices don’t start to go down we will just not overstretch ourselves, tie ourselves in to a low rate mortgage for at least 5 years and buy something that can be extended in the future. There’s a lot to be said for having somewhere you can call home too.

Prices will fall London wise.I am in Herts and prices dropping there.
I believe we have hit peak and on the way down again.
Especially considering economic factors,as another poster said £6 billion a year is paid out in housing benefit to private landlords.The country can't afford it and it will only increase as time goes on.The only way to change this is to get more people to buy,which will only happen if prices drop.

Shines, doesn't quite work like that. There are parts of the country where houses are dirt cheap (under 100k) but tons of people are long term renters. Affordability is only a small part of the equation.