Monday, Aug 03, 2009
No v-shaped recovery here
Press Association: Homeowners face negative equity
Homeowners could be stuck in negative equity for at least another five years as the property market struggles to bounce back, grim figures have showed.
House prices will plunge by 12.2% this year and fall a further 4.6% next year before stabilising in 2011 with a 1.1% rise, according to research from the National Housing Federation.
Homeowners who bought during the peak of the market in 2007 are likely to be waiting until 2014 or later to see any profit in their properties, the figures suggest.
Posted by little professor @ 12:39 AM (533 views) Add Comment
2 Comments
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1. little professor said...
BBC's take on the same story:
House prices to recover slowly
House prices in England will fall this year and next before recovering, the National Housing Federation forecasts.
It expects prices to fall 12.2% in 2009 and 4.6% next year, before stabilising in 2011 with a 1.1% rise and continuing to climb in the following years.
It predicts that, by 2014, house prices will be 20% higher than current values.
2. montesquieu said...
yes indeed saw the BBC spin first - apparently house prices are on the rise again, unstoppably. (after a brief fall).