Qualified advisers answering your
Financial Questions
call 0800 092 1245

Experts gloomy on property slowdown

The current property downturn might wipe 20 per cent from the value of UK homes, a new poll indicates.This was the average forecast for the house price decline from a panel of property experts contacted for the survey by news agency Reuters.Analysts at banks, investment firms and research institutions were all among the poll respondents.Some of the experts even expected a drop in housing value of 35 per cent - a trend which would plunge millions into negative equity.The average expectation for house price drops in 2008 stood at seven per cent.David Page, an economist at Investec, commented: "We think that in most respects the UK is undergoing a US-style housing correction." Miles Shipside at Rightmove added: "The lack of mortgage funding increases the danger of an over-correction in prices beyond what is required to bring buyer affordability in line."

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details