Wednesday, June 24, 2009
Standard & Poors makes formal application to join comedy club
House prices will stabilise in the last quarter of this year as the low number of homes for sale more than compensates for the fact that houses still aren't affordable, forecasts Standard & Poor's. 'UK house prices will stabilize in the final quarter of this year about 7% lower than in December 2008, and remain roughly stable in 2010,' said Jean-Michel Six, Standard & Poor's chief economist for Europe.This is much sooner than for the rest of Europe, where Standard & Poor's expects house prices to fall both this year and in 2010. The Spanish housing market is poised for worse, with prices declining until 2012, Six said.