The state of the Housing Market - Spain vs UK

SunnySpain · #1 (**permalink**) 17th April 2009, 10:36 AM

Hiya People,

I suppose its more of a question really.

Do you think the housing market is in a worse state in the UK or in Spain ?

My personal view is that its worse in Spain. I base that on recent reports that suggest the conditions of the housing market are improving slightly in the UK.

Bank of Santander recently made a statement that they are willing to give 100% mortgages again, if property prices are reduced by a further 20%

Has anyone noticed any significant changes in property prices in Spain ?

I also read an article that claims rentals have reduced by an average of 8% in Spain, whilst 50,000 homes have been reposessed by the banks since xmas.

So, there you go, any thoughts on the subject ?

Regards, Dave

jojo · #2 (**permalink**) 17th April 2009, 11:19 AM

I think Spain has a long way to fall yet. Property over here had such an artificial rise during the 90s and 2000s, plus in my opinion the construction industry and government got carried away with building more and more and more.... that its now having to settle. I´m sure there are properties that will hold their own, but in the main I predict further fairly hefty falls!!! (gosh listen to me, I sound like I know what I´m talking about LOL)

The UK has been showing signs of picking up and those signs will probably fuel further rises. In my opinion its these rumours and media reports that actually start these things off, just like when it was reported that it was all going wrong... it made it happen, well I think the reverse is starting to happen!!!?

Jo

SunnySpain · #3 (**permalink**) 17th April 2009, 11:33 AM

Quote:

Originally Posted by jojo

I think Spain has a long way to fall yet. Property over here had such an artificial rise during the 90s and 2000s, plus in my opinion the construction industry and government got carried away with building more and more and more.... that its now having to settle. I´m sure there are properties that will hold their own, but in the main I predict further fairly hefty falls!!! (gosh listen to me, I sound like I know what I´m talking about LOL)

The UK has been showing signs of picking up and those signs will probably fuel further rises. In my opinion its these rumours and media reports that actually start these things off, just like when it was reported that it was all going wrong... it made it happen, well I think the reverse is starting to happen!!!?

Jo

Yes, I ditto the above and would add that whilst property prices have fallen considerably in the UK, its now showing signs of stabilising, thus a recovery
may only be round the corner. The same must happen in Spain before any
real signs of economic recovery come about.

I am sticking to my view that 2011 is likely to be the best time to buy in Spain.

In the meantime, it might be reasonable to assume that the Pound will increase in strength due to such a recovery in the housing market.

Off topic - that circular shaped orange thing in the sky is here again

jojo · #4 (**permalink**) 17th April 2009, 11:39 AM

Quote:

Originally Posted by SunnySpain

Off topic - that circular shaped orange thing in the sky is here again

huh!! well send the bloody thing over here, I have two very bored and cold visitors wanting a sun tan!!!!!

Jo xxx

jojo · #5 (**permalink**) 17th April 2009, 11:41 AM

Quote:

Originally Posted by SunnySpain

Yes, I ditto the above and would add that whilst property prices have fallen considerably in the UK, its now showing signs of stabilising, thus a recovery
may only be round the corner. The same must happen in Spain before any
real signs of economic recovery come about.

I am sticking to my view that 2011 is likely to be the best time to buy in Spain.

In the meantime, it might be reasonable to assume that the Pound will increase in strength due to such a recovery in the housing market.

Well Dave if all your predicitons come true and I think you could be right, then I shall sell my UK house in 2011, buy a spanish place and live happily ever after...!!!

Jo

Tallulah · #6 (**permalink**) 17th April 2009, 12:09 PM

Quote:

Originally Posted by jojo

The UK has been showing signs of picking up and those signs will probably fuel further rises. In my opinion its these rumours and media reports that actually start these things off, just like when it was reported that it was all going wrong... it made it happen, well I think the reverse is starting to happen!!!?

Jo

Let's hope it can be talked up .... we need CONFIDENCE, people!!

Tallulah.x

jojo · #7 (**permalink**) 17th April 2009, 12:14 PM

Quote:

Originally Posted by My_Name_is_Tallulah

Let's hope it can be talked up .... we need CONFIDENCE, people!!

Tallulah.x

Agreed!!!!!

Jo

Stravinsky · #8 (**permalink**) 17th April 2009, 02:07 PM

Quote:

Originally Posted by My_Name_is_Tallulah

Let's hope it can be talked up .... we need CONFIDENCE, people!!

Tallulah.x

But thats exactly whats being done in the UK. From what Ive seen the estate agents have been the ones saying that the house market is on the move and prices are rising. They would want people to think that so the people who have been hanging back will start buying

SteveHall · #9 (**permalink**) 17th April 2009, 06:23 PM

Still going down in Spain ...... and I think it's 20% 25% off the bottom. Sadly.

jojo · #10 (**permalink**) 17th April 2009, 08:26 PM

Quote:

Originally Posted by My_Name_is_Tallulah

Oh right - I recognise it now!!! (Bit before my time, so you'll have to forgive me!).

He's a bit of a rocker, Xtreme, ain't he?!

BEFORE YOUR TIME??? Oh, well actually i was only a kid when it came out, it was on the "arrival" album.... my mum bought it!!. Altho I like rock, i dont like that version much

Jo