Sunday, January 18, 2009
Home buyers don’t need any help thanks
Just imagine if, a couple of years ago, you had suggested that the Bank rate would soon be 1.5% and falling, and that, just to set things up nicely for a recovery, house prices would come down by 16%, pushing them back to their long-term trend line. In the housing market of 2007, such talk would have been regarded as the equivalent of shouting “fire” in a crowded theatre. The market of 2009 is very different. The Royal Institution of Chartered Surveyors (Rics), while reporting the highest level of buyer interest for more than two years, says sales and prices are still falling.