Just as we’d started to think we were out of the woods a new report has come out to spoil it all. In spite of what had seemed like a recovery in UK property, house prices in Britain are now expected to fall by 6.6 per cent next year, according to estate agency Savills’ most recent forecast.
While prices across the mainstream market have risen by 3.7 per cent this year, Savills believes this is a “temporary phenomenon” and the market will soften next year as the economy remains weak.
If you think you can stomach hearing more about this subject then make sure you’re sitting down and read Daniel Thomas’ article on the Personal Finance’s pages.
Related links:
“House prices still horribly out of kilter with real life“, (FT, Lex, October 30)

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