Nationwide Building Society mortgage predicts slowing housing market
www.moneynews.co.uk > Mortgages > Nationwide Building Society mortgage predicts slowing housing market
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Nationwide Building Society mortgage predicts slowing housing market
Fri 19th Nov 2004
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Far from seeing an imminent collapse, the society suggested that prices could rise at a subdued five per cent.
Other indicators have shown that values are already declining in value.
CEO Philip Williamson told the Guardian: "In terms of house price inflation, we think it will be relatively subdued - almost treading water . . . There may be some single-digit growth - 0 per cent to 5 per cent would be our best estimate."
Howard Archer of Global Insight added a note of caution in an interview with The Times.
"While we believe that the chances of a soft landing in the housing market remain relatively favourable, there is clearly a significant risk that the price correction could become," he said.
Other observers have suggested that the slowdown has already arrived; the Royal Institute of Chartered Surveyors recently announced that 41 per cent of surveyors were reporting a fall in prices.
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Related News : Housing market |
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Related News : Nationwide |
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