Tuesday, Feb 12, 2008
Goldman Sachs predicts -5% and -2% UK house price decline in 08/09!!!
CNN: UK house prices seen down 5 pct this year as economic outlook weakens
This is like a death sentence. "The broker has lowered its house price growth assumption down from its November consensus forecast of a 3 pct fall for this year and 0 pct in 2009, and has also become more bearish on volumes. It now expects a 16 pct fall in volumes this year, compared to 11 pct before, following recent trading updates from UK housebuilders showing forward order books down by over 10 pct with the key Spring selling season still to come. Over the next month, it expects housebuilders to report a fall in buyer activity during the Spring selling season as tighter credit, falling house price growth expectations and falling mortgage approvals feed through to weaker demand" YIIIEPPPEEEEEEEE
Posted by confused76 @ 02:57 PM (478 views) Add Comment
2 Comments
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1. hpwatcher said...
As we continue to go into recession, unemployment will rise, inflation will increase and house prices will dive. 5% is probably on the conservative side.
It's been too good for rather too long; eventually the times change....bad news for EA's & VI's.
2. crash bandicoot said...
They are handling expectations with this. We all know how you are percieved by the general public if you start saying that house prices will fall by 40%. Expect this to be reviewed down every couple of months as reality sinks in and the public become more able to handle the truth.