Monday, Dec 29, 2008
Property finder think -12% for 2009 but "worst is over". ho ho ho
The Times: Propertyfinder.com puts number on 2009 price falls
"House prices will fall by a further 12 per cent next year, according to Britain's longest-established property website, adding to the gloom for the nation's struggling homeowners. "
"In spite of its apparently bleak prognosis, based on net mortgage lending to finance purchases reaching £40 billion next year, propertyfinder.com insisted that the worst was over in terms of the level of home sales. "
Lets see - with many more about to be unemployed, commercial market dead, imported inflation, banks with more losses to declare - how do you think it won't be worse?
Posted by growler @ 09:44 AM (523 views) Add Comment
2 Comments
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1. paul said...
The BBC will latch onto this like a fly on poo too.
VIs like this figure because it grossly underestimates the falls so far and in future. Its no use though - the Haliwide figures show the real 17-18% falls.
2. little professor said...
Nice of them to 'put a number' on the falls. Shame they seemed to have plucked the number out of thin air.
They have provided virtually no justification for their forecast, other than the laughable "the market, currently skewed favourably for buyers, would be dominated by bargain-hunters, including professional buy-to-let investors and first-time buyers."