Thursday, May 07, 2009
UK Housing Market Forecast
The Market Oracle: UK House Prices Bear Market Trend Forecast 2009 Update
The UK housing bear market trend is expected to moderate for 2009 from the forecast -16% towards -10%, however the downtrend is expected to continue for many more years at a shallower pace as the housing market depression will have the effect of slowly sapping the will of home owners who continue to mistakenly hold on to hope of a return of the housing boom to sell into that will FAIL to materialise as the house prices eventually drift towards the forecast for a peak to trough contraction of approx 38%.
Posted by nadeem walayat @ 02:41 PM (1128 views) Add Comment
2 Comments
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1. debtfree said...
great article nadeem, thanks for sharing your knowledge and presenting a well balanced view on the uk market.
2. bellwether said...
Nadeem the gradual decline you describe is akin to a bubble gradually deflating in a static as opposed to deteriorating economic environment.
In basic terms how so you see the UK economy repairing itself from here. With conspicuous consumption gone as an engine for growth, and competition for resources ever greater, I struggle to think how we will renew ourselves.