Property pundits - where do you think the market is going next?

[slackrunner]

Our house has just gone under offer (hurrah) - I was having a quick peek on Rightmove today and have noticed that others locally have also sold in the past couple of weeks.

Have we reached the bottom of the market, or is this just a spring blip and it has further to fall?

Can I just say you MN's sound very clever I feel a bit thick reading all of these posts .

Anyway I don't know much (as DH says your'e just a girl anyway) LOL: but I don't see prices going up anytime in the near future, I'm just hoping that they won't go down too much more - trying to sell ours - the interest rate cut was nice as a lender obv not so good if you have a lot of savings, but I have started seeing a lot of under offer and sold boards going up so here's hoping

The market here in Ireland is dropping like a stone, I've seenhouses priced at least 30% cheaper than 18 months ago. We almost bought at the peak, thank god we held our nerve and didn't. We are renting, and were trying to scrape together an 8% deposit, but my father died recently and I will be inheriting a 50% share in his co-ownership flat. So, I'm going to have the joy of selling that, but even if the market falls further it should be more than enough for a deposit, if the banks here ever lend to anyone again that is. I read an article in the paper at the weekend from an expert who reckons prices will drop another %)% from current prices ( already over 20* down on average). That sounds a bit scarey and adds up to a whole lot of negative equity, but might be good luck for us to get on the ladder at last.

Another 50%.

I don't know about ireland but everything that was for sale round here has now sold. I have heard of a house going for above asking price. That did not happen last year so it isn't just a spring blip.

No, not just a spring blip, but I do think its a 'dead cat bounce'.

Same has happened around here - lots has sold recently, most for far less than asking price but one went to sealed bids (was a very unusual, huge, Victorian detached house in need of renovation and on for a good price).

There is never a huge amount on the market in our area, but there is very little at the moment and people are panicking and grabbing what there is. Most of the predictions are for a bigger fall ahead - reality hasn't hit yet, thats all.