http://www.timesonline.co.uk/tol/money/property_and_mortgages/article5284863.ece

British house prices tumbled at a record 16.1 per cent in November, marking the sharpest drop in property values for a quarter of a century. 

The average price of a house in the UK is back to the July 2005 level of £163,445, but this is 124 per cent higher — or £90,000 — than the figure in November 1998.

With barely suppressed schadenfreude, watching Niall Ferguson's The Ascent of Money reminded me of how difficult it is to go against herd mentality, especially the bone-headed "buy-to-let" panglossians in the UK as recently as late 2007.

What a difference a year makes.  If you bought a house following the advice on this thread, you effectively invested at the peak of the market. 

A prescient but rare example of going against the herd:

candylips:

[b]honestly buying a house in london at this moment might not really be a smart move. The house prices are off the roof.
Some people have forecasted a possible drop this year or next year. [/b]You can consider gettin somewhere just outside london and build up value for a couple of years , sell it and get your dream home in london. That is what most first time buyers are doing these days

As you all know the decline in economy has made the property market cheap by 10 - 25% and if you are a serious investor this is the best time to invest.

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I would love to buy a flat in the future in UK, need some advice on how to go about it , but i don't live in the UK what are the requirement that i would need

thanks

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