Sunday, August 27, 2006
Economists ‘fess up, prices could be going down…
HOME owners will today be bracing themselves as higher mortgage bills will begin dropping onto doormats later this week. But there is more gloomy news ahead. House price inflation in Scotland has peaked and the market is heading for a slowdown, according to a Scotland on Sunday survey of property experts.
Nationwide group economist Fionnuala Earley adds that affordability is now stretched to a point where runaway values are no longer sustainable.