House price fall anticipated
www.moneynews.co.uk > Housing market > House price fall anticipated
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Money News |
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House price fall anticipated
Fri 1st Aug 2008
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Nearly half of those surveyed by the Intermediary Mortgages Lenders Association (IMLA), suggested that house prices will dip.
Meanwhile, 43 per cent stated that they thought that prices would remain stable and one in 30 brokers expect house price inflation to continue.
This represents a more positive response compared to the beginning of 2008, when more than half of respondents said that house prices would fall and less than 40 per cent said they would remain stable.
Peter Williams, executive director of the IMLA, commented: "House prices are expected to see a modest correction, but in the absence of forced sellers in the market place, they do not anticipate a major collapse in property values."
The IMLA recently claimed that in the current economic climate, good advice remains "essential" for the consumer, as borrowers continue to find it difficult to obtain credit.
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