Robin Property does not bottom at a 5.1% yield.

History has shown that to be the case.

As such UK property remains overvalued. The asset always osscialtes between low yields at market peaks and high yields at market bottoms.

This process from peak to trough is still ongoing hence buying UK property now will result in a poor ROCE.

It is not any different this time. The process still needs to see out.

I can't believe that the second biggest elephant in the room has not been mentioned on this thread.

The reason why the market certainly has NOT bottomed out is that price inflation has a long way to go up yet, and then correspondingly interest rates will have to rise to 10+ before things return to normal in 3 yrs time or so.

Im afraid that it is daft to say that government debt is "mudding the water" - since it is this that will force inflation up & thus interest rates up.

Just think of how many repo's that are yet to come, - all those people just hanging on with 0.5% interest rates with negative equity, what will 10% interest rates will do to them?

Definition of a fool - someone who jumps in too quickly = anybody who thinks the bottom is anywhere near.

Once debt to income returns to an average of 3.5x - only then will the market begin to recover as lending returns to normal.

Im certainly NOT going to take any ADVICE from anyone UNLESS they saw the credit crunch coming several years ago. Believe it or not there were a good 5 or so prominent economist who did get it right. So ignore 99.9% of economist predictions since they have no credibility whatsoever!

There are so many predictions floating around right now - most are driven by vested interests. When all is said and done it will be 35% fall at least from top of the market in 2007 to the bottom.