Friday, August 31, 2007
What’s a typical ‘soft landing’? Anyone seen one of these before?
The UK's biggest property website insists there is no reason to panic but sees only single-digit growth next year (by Steve Hawkes) Rightmove, the UK’s biggest property website, moved to dispel fears surrounding the housing market today by insisting that while price growth was slowing, there was no reason to panic. Ed Williams, group managing director, insisted that while affordability was becoming more a problem for potential home buyers, the housing market was going through a “typical soft landing”. He said: “There is a slowdown in the housing market, but it’s something we do not believe is anything like as traumatic as in some reports. “It has been slowing down in areas outside of London for a year, so it’s a typical soft landing.”