#####Hi All Is There Going To Be A Housing Slump Crash Has The Bubble Burst In London#######?

Question

hi all has the bubble burst...i bought a flat last year in ealing and want to sell it this summer....im i better off waiting are prices going to drop further...will it pickup this summer.....or are the prices just leveling off say a 10 15 grand drop your views on this topic would be great...have a good day and thanks for answering

Answer 1

As with all housing and economic "period" questions. Nobody can be certain of the type of period that we're in until after that fact when we can look at the facts and they can be compared to previous and current periods. Economic periods are not truly labeled until after they have happened. Everything else is just prognostication and educated (to what level may be argued) guesses.

Answer 2

The smartest economists in the country don't know the answer to that one so all you're going to get here is opinion.  

I'm sceptical of property 'experts'... do they know more than everyone else or did they just make a fortune by guessing right the last time the market turned?  If you had a room full of people making property decisions by tossing a coin probably a handful of them would be hugely successful too.

On the other hand, if you know someone who has consistently read the market right through a series of up- and down-turns over a long period of time like maybe 50 years... perhaps that person would be worth asking.

Answer 3

The country is about to go into recession, I would wait 15 years.