That is the million dollar question! But I reckon with the lack of mortgages and therefore first time buyers I think we will see a drop. I spoke to my finance guy and he reckons as much as 20% short-term 6 - 18 months.
Mt flat I was painting today I bought 10 years ago for 60K. I paid it off about 5 years ago and now I am looking at about £200K. I was originally going to sell it and the proprty I live in and buy GreedyBoy Towers. Now I hope to buy a similar property in 12 - 18 months for £150K and have 50K left in the bank.
Capitalism at it's finest
I reckon it's worth a punt!?!?
Those who are strapped up to the eyeballs will be hurt most. I remeber when this happened last, a friend of mine had 5 properties and eventually lost them one by one.