Sunday, March 15, 2009
Mr Pidgley, CEO of Berkeley, says that the housing market "is somewhere along the bottom" of its economic cycle, meaning prices shouldn't collapse much further. Paul Pedley of the Home Builders Federation says, "I have been in this industry for 30 years, and housing is now as affordable as I can ever remember. But we need confidence to come back into the market. Confidence will inevitably return, as housebuilding never really loses a customer. The need for new homes is gradually getting pent up, and when the market improves and that demand is finally released, there will be rampant house-price inflation."