Swansea Evening Post - House Price Crash Looms
Posted 03 June 2008 - 02:06 PM
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.
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
BBB @ Dec 5 2004, 05:30 PM: some credit crunch guys....not my idea of a credit crunch......is it yours?
''first this will happen, then this will happen'' you all said..kind of throws all your baloney theories out of the window doesn't it?
They will do anything to avoid suggesting that the size of the pie is not the real problem, it's the way it is sliced.
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