Despite all the doom and gloom around the economy and the housing market, prices have held up well.
They are now said to be only around 15% what they were at the peak and still rising.
So what is the longer term outlook? Hard to say, and opinions are mixed as to whether overall it will continue to go up or down, with many still saying they will go down despite the fact that prices have held up well.
What seems to be depressing it is the fact that all the anticipated 'pain' to come and the loss of public sector jobs etc could flatten confidence and demand, although this does of course remain to be seen if those cuts will actually come as promised.
There is also concern about the state of the mortgage market, but really it seems to be a watching brief. As ever if you get a property in a good location, then you should always have a reasonable chance of shifting it in a reasonable time frame whatever the market conditions.
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