Sunday, Jul 11, 2010
Sunday Times changing its spots!
The Times: House prices could keep falling for another year
I don't know if you will be able to read this as they are now subscription only but I will post a few snippets in the article summary.
"House prices could fall 15% over this year and next, economists have warned, as evidence grows that the property market is heading for a double dip."
"Economists fear the recent falls could be the start of a “double dip”. Capital Economics, the consultancy, expects prices to drop 6% to 7% over the second half of 2010, meaning they would be down 5% for the year as a whole. Prices will then fall 10% in 2011 as public-sector job losses and a continued drought in mortgage lending offset the benefit of low interest rates, it predicts."
The article is more upbeat later on but it makes a change from the usual VI dominating headline!
1 Comment
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1. Phil S said...
I seem to remember that they also predicted a 50% drop from peak a year or two ago, so take what they say with a pinch of salt!