Wednesday, May 21, 2008

Can’t sell – won’t sell…….game over!

Grim warning as house prices are set to plummet

Trevor Hines, head of public policy and communications for RICS South, said: “Kent is going to suffer and will have to weather the storm like everybody else in the south east. “No one can predict how long it will go on for and how serious it will be but people will have to tighten their belts. “The second half of 2008 will prove a difficult period for the housing market.” Mr Hines said it would be particularly difficult for those trying to sell their properties and already house owners in Tunbridge were deciding not to sell up because they would not get value for money for their homes.

Posted by rental john @ 09:10 PM (620 views)
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2 thoughts on “Can’t sell – won’t sell…….game over!

  • Mr Hines said it would be particularly difficult for those trying to sell their properties and already house owners in Tunbridge were deciding not to sell up because they would not get value for money for their homes.

    Define value for money. If its a waiting game, I think the home owners will be the ultimate losers if they don’t act before the prices really start to fall.

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  • Peter Bolton King, chief executive of the National Association of Estate Agents, however, was keen to play down any fears of a crisis in the housing market saying it was rather a “confidence” crisis. There were still permanent factors, such as rising population and Government housing targets that had to be met by 2026, that strengthened the market.

    “People have to remember 40 per cent is an average figure across the whole country.

    “Kent, like elsewhere in the country, has quiet areas and others which are not too bad. We have not got a housing market crisis. The underlying factors have not altered. It’s a confidence crisis.”

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