Three-quarters of Britons anticipate house price decreases |
27 2008 |
| Three-quarters of Britons are expecting house prices to fall over the course of the next 12 months. That is according to new research released today (June 27th) by the Building Societies Association (BSA) in the shape of its latest Property Price Tracker survey, conducted by YouGov. The study showed that 74 per cent of respondents expected prices to fall in the next year, while 25 per cent thought that prices would drop by five to ten per cent. In addition, the results confirmed that the average expectation is for prices to fall by 7.1 per cent, highlighting the reason why many would-be homeowners are turning to renting as the market continues to suffer. Commenting on the results, Adrian Coles, director general of the BSA, said: "It is clear that the positive outlook that has characterised the property market for the last few years is now a thing of the past, and people expect prices to fall over the next year." The most pessimistic region was Wales, whose respondents claimed that they anticipated price falls of 9.1 per cent across the UK during the coming year.  |
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