Monday, Aug 10, 2009
Recovereh ahoy!
New York Times: UK House prices seen rising 2% in 2010
British house prices are likely to fall just 3 percent more over the rest of 2009 before growing by 2 percent in 2010, the Centre for Economics and Business Research said on Monday.
"Our view is that the extent of house price falls already seen means further significant falls are unlikely," said CEBR economist Benjamin Williamson.
The forecast comes the week after the Royal Institution of Chartered Surveyors said it expected house prices to end the year higher than they started it, in contrast to its previous prediction that prices would fall 10-15%.
Posted by little professor @ 12:41 AM (1311 views) Add Comment
6 Comments
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1. little professor said...
CEBR in 2007: House price surge to continue, with prices to rise £1000 throughout 2007 and 2008, fuelled by bumper City bonuses and an acute property shortage. The research will be a relief to homeowners worried by recent warnings that the property bubble was about to burst.
2. uncle tom said...
It's 01.20 here in darkest Iowa, and the mood is really quite bullish; in notable contrast to last year, when attendance at this convention was notably light and subdued. People are here in their thousands, spending freely, and we have a record number of competition entrants.
I've just spent five hours on the judges bench, scoring over three hundred fireworks; most unlike anythng you'll ever see in an ordinary display. Only one left a crater in the ground, but several had the safety crews running for cover. All good fun..!
While I'm not sure if the urban poor would agree, middle America seems to regard the recession as yesterday's problem.
Whether this is false optimism remains to be seen..
3. fubar said...
LP @1. Excellent comparison. These bogeys seem to have short memories.
4. mander said...
I mean there are so many so called experts trying desperately to create the boom spirit when people were rushing on to the property ladder cause the prices were rising too fast. 2% increase after all the green shots and massive QE will not rush any responsible buyer. Let the banks deal with equity-rich investors.
5. denzil said...
"UK House Prices seen rising 2% in 2010"
That made me laugh. I title made to sound like fact. How were they "seen", time travel perchance?! Who saw them? The NYTimes. Whilst they were in their time machine did they notice the value of the markets, gold or whether a large jump in the price that I expect to occur had materialised.
6. 51ck-6-51x said...
denzil - unfortunately they had no more silver for the nice lady ;p