Friday, November 28, 2008
Bottom feeder bait
"The price of the average property in Britain now stands at £158,442, a fall of 0.4pc from £158,872 in October, Nationwide's house price index shows. Prices are 13.9pc lower than at this time last year. These figures are less doom-laden than last month's, when the month-on-month fall was 1.3pc and the annual decline reached 14.6pc. So does this mean that the housing market is about to turn a corner, or do prices have further to fall? And if we haven't yet reached rock bottom, how much longer before we do? We asked the experts – economists, mortgage brokers and estate agents – for their predictions." Despite my title, most of the article is quite reasonable but check the predictions made by Peter Bolton King of the National Association of Estate Agents near the end of the piece.