Monday, December 19, 2011
More good news
Knight Frank forecasts 5% fall in house prices next year
Grainne Gilmore, head of UK residential research at Knight Frank, says ongoing economic strife is to blame for the expected 5% decline next year. She says: “The 5% drop in prices in 2012 will leave property values nearly 15% below their 2007 peak. In fact, even with the modest gains seen in later years, we forecast that average house prices will not hit 2007 levels again until 2018.†Factor inflation into that and the downside is even greater
Posted by stuartking @ 10:08 PM (4024 views)
4 thoughts on “More good news”
Add a comment
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
markj69 str05 says:
With little inflation on household income, a 15% drop in property which is overvalued by 40% means bugg3r all. And just because most other outgoings have inflated more, it doesn’t make it any sweeter. It’s a bit like saying, ‘i may have poked you in the eye, but it’s not so bad when you realise I also shot your foot off. Now where did I put that salt?’
A home will remain unaffordable as long as they are greater than 4x salary ratios.
hpwatcher says:
More good news
20% would have been good news.
mdmick says:
Will Mr Wadsworth please confirm if this news is an accurate indicator of where the housing market is going?
It has the requisite polarity.
In some countries, it’s normal for houses to be beyond the finances of a regular family income.
But is it in the UK volksgeist to go that way too?
Doubtful.
So let’s have some price drops please? If you’re reading this and you’re trying to sell a property, why not jump the market and get your lower price in early? You know it makes sense.
techieman says:
well something isnt quite right in la la land is it? If you look at the HPC page about HP predictions you will see that in March 2011, 2012 was predicted to be +5%. I have not checked it but if thats right then these folks really have less credibility than …. erm…… ;).
So, in short…. duly ignored….
If you want to read it from the horses mouth try : http://my.knightfrank.com/research/?regionid=2 personally i cant be ar5ed.