Estate agents expect end of house price falls within a year
The majority of estate agents remain optimistic that house price falls will halt within a year.Of survey of 100 estate agents by Abbey found that 30 per cent believe house prices to stop falling in six months time. Meanwhile, a further 31 per cent said that house price deflation will stop within 12 months. Phil Cliff, director of Abbey Mortgages, said: "Estate agents and homeowners believe that, despite current movements in house prices, we are unlikely to experience a really prolonged period of house price falls."Most think the period of decline will be over within a year and a very small minority think it will last longer than two-three years." According to Nationwide, prices fell by almost one per cent during June.
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