Saturday, September 20, 2008
Guardian’s property Q&A’s – reality dawns
Whichever way you look at it, this week's events are hardly going to help a property market that was already in the doldrums with prices between 8% and 10% down this year. At best, prices look set to continue their downward path to a predicted 10%-15% fall by the end of the year, followed by a similar fall next year. At worst, this week's events will send the UK market into a 1990s' Japanese-style freefall from which that country is yet to recover.