House price falls predicted for 2009
The UK housing market will continue to decline during 2009, according to an expert at Capital Economics.
Seema Shaha, economist at the organisation, said that the group expects house prices to fall by around 35 per cent by the end of next year.
Her comments come as Countrywide is planning to hold a house clearance sale today, which will feature some properties being sold at a 40 per cent reduction.
Falling house prices could provide a good opportunity for graduates considering mortgages for professionals to get onto the housing ladder.
Ms Shaha said the auction's clearance prices are in line with Capital Economics' expectations for the housing market.
"For some reason or another they need to sell their home [and] they can't really sit on their property and wait till the market is rising again," she commented.
Last month, Hometrack's house price survey reported that average property prices had fallen by 7.3 per cent over the previous 12 months.
Mortgages for Professionals provides expert mortgage advice for high earning professionals on over 30,000 mortgage types.
Seema Shaha, economist at the organisation, said that the group expects house prices to fall by around 35 per cent by the end of next year.
Her comments come as Countrywide is planning to hold a house clearance sale today, which will feature some properties being sold at a 40 per cent reduction.
Falling house prices could provide a good opportunity for graduates considering mortgages for professionals to get onto the housing ladder.
Ms Shaha said the auction's clearance prices are in line with Capital Economics' expectations for the housing market.
"For some reason or another they need to sell their home [and] they can't really sit on their property and wait till the market is rising again," she commented.
Last month, Hometrack's house price survey reported that average property prices had fallen by 7.3 per cent over the previous 12 months.
Mortgages for Professionals provides expert mortgage advice for high earning professionals on over 30,000 mortgage types.
