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)
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4 thoughts on “More good news

  • 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.

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  • More good news

    20% would have been good news.

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  • 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.

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  • 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.

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