Friday, February 1, 2008
Can’t wait to see the first BTL bankruptcies in London
'Markedly reduced housing market activity is now weighing down significantly on house prices, and this seems set to continue for an extended period,' Archer said. 'There is clearly a very real danger that a sharp housing market correction could occur.' Credit Suisse takes a more extreme view than most, predicting UK house prices will fall 10 pct this year. That is a slight shift lower from its forecast for a drop of 5-10 pct, made in the autumn. 'House prices have started to fall and we think leading indicators like the RICS survey, consumer confidence and mortgage approvals will continue to feed into further declines through 2008,'