Will house prices go back up again?
September 26, 2008
Over recent months the financial headlines have been filled with stories about falling house prices, and many industry officials have been making one gloomy prediction after another in relation to how quickly and by how much house prices are likely to continue falling over the next year or two, with some claiming that house prices could fall by as much as a third over the next two years, which could plunge many homeowners into negative equity.
However, one recent report has gone against the grain by suggesting that whilst house prices are on the fall at the moment they downturn could stop as early as the middle of next year and house prices could then start to rise again. In fact the report, which comes from the Centre for Economics and Business Research, suggests that over the next three years house prices could actually rise by as much as 30%, and by 2012 the average house prices could be around £50,000 higher than it is now.
The news will be welcomed by many homeowners who have been fearing that they will be plunged into negative equity for many years to come, although it is difficult for many to determine which report are likely to be the most accurate given that so many industry officials expect house prices to keep on falling.
Officials from the Centre for Economics and Business Research have said that one of the factors that could contribute to house prices rising again in the UK is the shortage of houses, which is being fuelled by many housing development companies laying off staff and halting the building of new properties due to lack of property sales.
- Property prices could fall by 35 percent before they rise again A leading economist has warned that house prices in the UK could be set to fall by as much as 35 percent in total before they start to go back up again. The warning comes
- Right Move report a return to peak for London house prices According to recently released figures property prices in London have managed to claw their way back to the level that they were at when they reached their peak back in 2007. In fact, officials from
- Possible £40,000 fall in house prices by end of 2009 According to recent figures house prices could fall by as much as £40,000 by the end of 2009. The figures indicated that compared to the peak of last October the average house price could fall
- Broker and lender optimistic about housing market A major High Street lender and a well known mortgage broker have both made optimistic predictions about the housing market recently, predicting that by the end of this year house prices could start to increase
- Surveyors hope for increase in property sales A survey from the Royal Institute of Chartered Surveyors has recently suggested that over the coming months there could be an increase in the level of property sales in the UK. Officials from RICS have
Comments
Got something to say?