Friday, Aug 29, 2008
Good forecast for housing market
EDP24: Bleak forecast for housing market
NEWS
Bleak forecast for housing market
ADAM AIKEN, EDP DEPUTY BUSINESS EDITOR
28 August 2008 19:59
Property prices in the east of England are not likely to return to last year's peak until 2013, according to figures published yesterday.
The analysis of the regional market came from property firm Savills on the day it said profits in its estate agency business nationally had slumped 88pc during the first half of the year.
Posted by housebear @ 09:00 AM (328 views) Add Comment
3 Comments
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1. Lie To Bet said...
Would that be the same Savills that was predicting price rises of 1% for 2008?
How accurate is their 5 year prediction likely to be?
2. Archiejc said...
House prices back to 2007 levels in 5 years time?
By this time next year, there'll be no more conversations about property prices at dinner parties and in the pubs of middle england. By 5 years time - people won't even be thinking of an upturn, let alone waiting for one.
Forget it, it's over. You just need to look at the banks to see what the prospects of an early recovery are.
3. Eternal Sceptic said...
It would be very nice if the above were true. But the confidence level in all utterances by any person even vaguely related to the property market
has been seen to be so abysmally low as to be better totally disregarded. I suspect in five years time people will be longing for the good old days of merely a 10% drop in property value.