Homeowners predict prices to drop
Homeowners expect the value of their property to drop over the course of the next year, a survey has found.
The poll by Adfero revealed that 84 per cent believe their house will be worth less in 12 months, with the remaining 16 per cent suggesting there will be no change.
And with none of the respondents expecting values to increase, those looking for a house or flat in London may prefer to rent rather than buy - in order to avoid the risk of negative equity.
"We are hoping that it won't [go down] but, the way that it's going, it will probably be worth less," said one homeowner surveyed.
The most recent figures from the Land Registry revealed that house prices in the capital are continuing to fall.
A monthly decline of 1.9 per cent in October added to a more than ten per cent drop over the last year.
Published 12th December, 2008
© 2008 Estates IT Limited
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Homeowners expect the value of their property to drop over the course of the next year, a survey has found.