Tuesday, July 29, 2008
Reality is finally biting
Liam Bailey at Knight Frank considers if any parts of the UK market are proving immune to the current downturn. "...the reality is for most people now if you want to sell your house people are accepting they have to take 10 per cent less than they would have got last October." "...In a sense you could argue what we have now is actually a normal mortgage market. I mean certainly 10 or 15 years ago this was normal." "...when do prices stop falling and then begin to rise, and probably that's 2010"