Jul
13
Gloomy News For House Prices
Filed Under Finance
House prices could fall, or at best remain static, for the rest of the year according to a slightly gloomy forecast by UK Surveyors.
It’s the influx of sellers coming into the market and the uncertainty abaout th eeconomy holding buyers back that could trigger a slide in house values.
Apparently there are more sellers flooding into the market now than at any time for three years and actually I can belive that.
In my area there has been a sudden sprouting of “For Sale” signs, but very few of them seem to blossom into “Sold” status. If this is happening in your area and across the UK then you can see why the surveyors are a gloomy bunch at the moment.
I’ve said it before, but it is particularly noticeable that there are a surprising number of failed sales. That triumphant sold sign goes up, only to be taken down again a few weeks later. Some houses have played that game three or more times.
That indicates market churn ie activity that takes the market nowhere, but it must make some surveyors less gloomy as they will probably be surveying the same house more than once.
Comments
Leave a Reply