House Prices Forecast To Rise By 30% Over Next 4 Years
In the middle of the doom and gloom of a major recession it can be very easy to bandy around some headline grabbing numbers and pull in interest from the property sector. Whether the forecast 30% bounce in house prices between now and 2012 actually materialise is a different matter but the Centre for Economics and Business Research (CEBR) seem to think this is a strong possibility.
The CEBR has released a detailed review of the UK market which is both very factual and makes interesting reading for anyone connected with the sector. They believe that the market will stabilise next year and then start to pick up towards the end of 2009. By 2012 they estimate that the average house price in the UK will be in the region of £226,000, a jump of £50,000 from today's average price.
At the moment these positive surveys are being discounted by many but the more that are released to the market, the more chance of changing baseline sentiment. When sentiment does finally pick up in the market we will see people take more notice of the positive surveys and discount the negative forecasts. Human nature is the key to stopping the rot in the housing market although when this will turn is anyone's guess.
Share this..
Related stories
Barclays bank executives to pass on cash bonuses for 2009
Three of the top executives at Barclays bank are believed to be on the verge of announcing that they will pass on cash bonuses for 2009 and instead choose to receive shares over several years. It is believed the gesture is purely and simply a move to pacify shareholders who have expressed significant concern at the amount of proposed bonuses to be paid not only by Barclays bank but by the UK banki...
Read MoreHypocrisy of the highest order at the FSA?
As the new chairman of the FSA settles into his new office and joins in the Labour Party led rant against the sky high wages in the City and excessive bonuses it seems as though the tenure of Lord Turner has hit a rocky patch already!
After joining the assault on the so called City fat cats it was pointed out to Lord Turner and the Chancellor Alistair Darling that Lord Turner himsel...
Bank bosses say sorry but deny personal responsibility for RBS collapsed
Sir Fred Goodwin, former RBS chief executive, and Sir Tom McKillop, former RBS chairman, were today in front of the Treasury select committee looking into the collapse of the UK banking system. While both former leading lights of the RBS group apologised for the collapse in both the UK banking system and the Royal Bank of Scotland in particular, they did not take personal responsibility. Despite s...
Read MoreWould a reduction in the UK credit rating make a difference?
As UK national debt continue to spiral higher and higher there are serious concerns that the UK government is losing control. Many of the credit rating agencies have been examining the situation in the UK and there are suggestions we could see possible downgrades in the short to medium term. A downgrade on the U.K.'s credit rating will have a serious impact on the cost of finance and the length of...
Read MoreUK government to introduce public-sector pension levy
It is widely rumoured that the UK government is looking at introducing a pension levy on the public sector which would see public-sector workers contributing an additional 2.5% of their salary to be able to enjoy current benefits in the future. This move would raise around £3.2 billion a year for the UK government and begin to reduce the potential £1 trillion black hole in public finances caused...
Read More