Consumers expect more price falls |
25 2008 |
| Over three-quarters (75.8 per cent) of consumers expect house prices to fall by the end of 2008, according to new research from a leading online conveyancer. Easier2move conducted a study which illustrates the fact that 74.9 per cent of people will not buy or sell as the housing market continues to suffer from a sharp correction. In addition, 30.8 per cent expected price falls of one to five per cent, 30.5 per cent envisaged drops of five to ten per cent and 14.5 per cent forecasted a decrease of over ten per cent. Director Robin Marcus expressed concern about the unwillingness to undertake transactions. He said: "However, as over 75 per cent of respondents say they are expecting to see house prices fall by the end of the year - some by more than ten per cent - it is completely understandable to see them taking this stance." Mr Marcus also added that he hopes the number of people who believe prices will go up in the remainder of the year will increase gradually to help the market return to its previous levels.  |
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