Brits 'expect house prices to fall'
A large number of prospective housebuyers in the UK believe that property prices are going to continue to drop in the next year.
That is according to new research which has revealed that 25 per cent of Brits, many of whom rent property in London, think that prices will drop by as much as ten per cent in the next 12 months.
On average, those questioned by YouGov for the Property Price Tracker from the Building Societies Association (BSA) predicted that house prices would fall by 7.1 per cent.
Adrian Coles, director general of the BSA, pointed out that while house prices look likely to keep falling, property will still prove to be very expensive for many.
He said: "This must be kept in perspective. Property price inflation has been so great over recent years that a 7.1 per cent fall in prices means that most people still have considerable equity in their property."
Published 27th June, 2008
© 2008 Estates IT Limited
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A large number of prospective housebuyers in the UK believe that property prices are going to continue to drop in the next year.