House prices may pick up again soon, NHF warns |
28 2008 |
| Prospective first-time buyers should not get carried away with the recent news of falling prices within the UK property market, a new report from the National Housing Federation suggests (NHF). Though almost all parts of the country have seen property prices fall by at least a few thousand pounds over the past few week, leading to speculation that the days of young professionals struggling to get a foot onto the housing ladder are coming to an end, experts have warned that things may soon pick up again. According to the NHF, rising demand and falling supply will serve to push prices up again once the market has levelled out in the short-term future, making rental accommodation the best bet for millions of Britons. The organisation's chief executive chief executive, David Orr, noted: "It's clear that, even with house prices falling, affordability hasn't improved one iota. "In recent months, we have seen mortgage arrears increase, the number of repossessions grow and new mortgages become more difficult to acquire."  |
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