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Crashman Begins

Swansea Evening Post - House Price Crash Looms

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http://www.thisissouthwales.co.uk/displayN...tentPK=20772622

HOUSE PRICE CRASH LOOMS

09:00 - 03 June 2008

Swansea is heading for a 35 per cent drop in house prices over the next few years, a leading property expert has warned.Higher mortgage rates and fears of a recession are scaring off buyers and forcing sellers to drastically lower their prices, according to financial guru Jonathan Davis.

The spokesman for housepricecrash.co.uk, said all types of housing were being affected by the slump.

He believes that prices will continue to fall locally until around 2011.

Mr Davis said his advice to buyers is to hold fire and wait and see what happens to the market.

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Reader comments:

Actually I've run my projected futures for Swansea houseprices, and it's not looking good. I've used the Umbrella quantum theory and it brings up price drops of around 37% by 2011.

Bruno Powroznik , Cardiff

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