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23/03/2009
House prices to fall further says poll |
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House prices in the UK will carry on falling this year and into 2010, a poll has predicted.
The Reuters survey of 36 experts from the financial sector established a consensus that there will be a 14 per cent drop this year, with another four per cent to follow in 2010.
Such an affordability boost may help attract more buyers to the residential property market, with such people potentially benefiting from legal advice before they make transactions.
Commenting on the increase in demand recently seen in the market, David Page of Investec Securities told the news provider: "Affordability is driving that [rise in demand] while interest rates are dramatically lower."
This increase is now translating into a jump in sales, the National Association of Estate Agents has said.
Its February figures showed a rise in sales per agent to eight, the same level as a year earlier, something the body's president Chris Brown described as "a real boost for a beleaguered market".
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