You are here: DIME Home > Estate Planning > Property prices 'to fall by 10% over next 6 months'


Property prices 'to fall by 10% over next 6 months'

An expert has said that the cost of houses in the UK will go down by ten per cent in the next six months.

Author: Sam Gooch
Date: Oct 4, 2010 - 12:16:58 PM


Printer FriendlyPrinter friendly page

An expert has said that the cost of houses in the UK will go down by ten per cent in the next six months.

People seeking home credit deals in the near future may be pleased to hear one expert's opinion on the direction of the mortgage and property market in the coming months.

According to Paul Holmes, chief executive officer of Firstrung, the price of houses - along with products such as tracker mortgages - could fall by as much as ten per cent between now and March 2011.

Mr Holmes believes that costs in this sector "exploded" prior to the recession solely due to the widespread availability of cheap credit from financiers, but this trend has now reversed as credit is no longer cost-effective, despite the fact that interest rates are at 0.5 per cent.

The expert described this as a "perfect storm" in the market, before asserting that a reduction in price across all estate agents is inevitable over the duration of the next six months or so.

His comments came after the publication of data yesterday (September 27th) by Hometrack, which stated that the cost of houses across all regions in the UK has fallen for the first time since April 2009.

This data reveals that demand for accomodation in Britain has reduced by 2.9 per cent so far in September, which represents the third month in succession that this trend has been seen.

In a continuation of this theme, the volume of buyers registering with agents has dropped by 6.5 per cent, while the supply of residential properties nationwide has also risen at a slower rate than in previous months.

Meanwhile, Mark Hayward, vice president of the National Association of Estate Agents, remarked recently that predictions from analysts and the public of house prices being reduced puts the market at risk of becoming a "self-fulfilling prophecy".

Mr Holmes concluded that the long-term future of the sector is dependent upon whether the Bank of England steps in to raise interest rates in order to prevent inflation "getting out of control".

UK Price Comparison website http://www.which4u.co.uk Compares Credit Cards, Savings Accounts, Fixed Rate Bonds, Bank Accounts, ISAs, Loans, Mortgages, Insurance, TV & Broadband and Gas/Electric bills to find the best UK deals



View all articles by Sam Gooch

Link to this article:

Code to copy: <a href="http://www.dime-co.com/estate-planning/Property-prices-to-fall-by-10-over-next-6-months.shtml">Property prices 'to fall by 10% over next 6 months'</a>




Related Articles...

How To Leave Your Estate And Assets To A Loved One With A Will And Last Testament

Dec 29, 2010 - 8:27:13 AM

One of the most basic questions that individuals have nowadays is the fact that they desire to leave certain assets and priced possessions that they have to their loved ones once they pass on. Many individuals do not know even where to start if they want to do this and this article is a very good place to start. In essence, what these individuals need is a Will and Last Testament.... [Read the full story]

Why Would I Need To Utilize The Services Of An Attorney To Prepare My Will

Dec 29, 2010 - 8:26:11 AM

A Will and Last Testament can truly be a complicated tricky legal document that can have many tax and financial implications for individuals. In essence, the individuals that will be most affected by the Will are actually your heirs and beneficiaries that you leave behind once you pass away.... [Read the full story]

Business Succession Management - Estate Distribution

Dec 1, 2010 - 10:39:58 AM

Every entrepreneur must realize that estate planning objectives aren't the same as lifetime objectives. Death can come suddenly so plan correctly for the future today.... [Read the full story]

Laguna Beach Homes - How the South Coast city is faring against the rest of the state

Nov 17, 2010 - 6:24:02 AM

California got one of the heaviest blows in the real estate crisis, with home prices dropping as low as 50% in some areas. And as affluent cities felt much of the crunch, Laguna Beach and other beach towns braced themselves earlier this year for a hard run and another foreclosure wave. How do Laguna Beach homes for sale rate as the third quarter reaches its peak? Here’s a look at how the South Coast city is faring against the rest of the state.... [Read the full story]


Newest Articles in Popular Topics:

Business & Marketing Computers & the Internet Entertainment Health & Fitness
Finding Ways To Save Money And Maximize Revenue In Business
Cooper's Golf Park Tees Off Their New Website
Fiinovation Adjudged CSR Team of the Year & Caring Company at World CSR Day
Reasons Why Kale Realty is the Best Real Estate Firm in All of Chicago
Montreal Tech Startup Kangaroo Rewards Launches Mobile Loyalty Program for Local Merchants
It is time we break out of the SEO Shelter
3 Strong Reasons You Should Start Your Own Blog
Evolve Your Career With CompTIA A+ Certification Exam
High speed VMware Backups - Powered by UltraBlaze() from Vembu
Things to Consider When Selecting a Domain Name for Your Website
Fling Boom "Launches" This Holiday Season
Beautiful Abstract Canvas Art is Up for Grabs
Buying Art as a Gift: Tips From an Expert
Complete Guide to the 2014 Gatlinburg Fine Arts Festival Released by Jackson Mountain Homes
Learn Blues Music Online-Alternative to Traditional Piano Lessons
Causes and Treatment of Acne
What Type Of Constipation Home Remedies Are There?
Manual Wheelchairs: Buying One
Instant Facelift with Dental Implants
Lasik Surgery Leading Correction Of Vision Issues

Home & Family

Shopping

Sports

Travel
Enhance Your Learning Experience Through Best Responsive Elearning Development Tools
Best Apps for Learning German
Esvees is Cranbourne's Elite Hair Dressing Company
Ozone Generator
Practical Tips When Choosing Gates and Gate Openers for Your Home or Business
Why Cases are Required for Mobile Phones?
Are Dealership Services Worth It?
2015 Jeep Grand Cherokee Named Must-Shop SUV for Towing from AutoTrader.com
Online Selling With An Appraisal Advantage
Macsome AudioBook Converter released New Version V2.0.4
Aditi Ashok signs off with a double
Softball Coaching: Avoid Becoming A Nattering Nabob of Negativity
Softball Coaching Tips - The Funnel Approach
Pick Up Specialized Advice on Jumping Exercises Which Are Highly Effective
Vertical Jump Training Tactics to Increase Your Athletic Performance
Tips for Choosing the Right Paris Short Lets
Hostels - the best choice for working womens and college students
Perfect holiday? Book a cruise and sail in Croatia!
Say Aloha to Your Best Vacation Ever with Kohala Coast Properties
The Perfect Guide for a Fantastic Family Trip to Kansas City

 



Follow & Share Your Favorite Video Articles

Tell a Friend About This Site



Chamber of Commerce - on the Web logo



Subscribe to the eMarket SmartsTM Newsletter in order to keep up to date with what's happening with dime-co.com, get the emails on new video articles, featured articles, and more. Your privacy is always protected. We never rent, sell or trade your private information

:
:

Service provided by GetResponse Autoresponders


Recommended Associates


Latest Articles in All Categories


Putting Up a Small Commercial Printing Business
So You Might Be Unemployed And Desire To Become A San Francisco Real Estate Investor Now
Meditation and Mindfulness: Dealing With Emotion
CPA Websites: Five Essential Ideas for Composing Convincing Articles
Set Goals In Order to Come Up With Your Action Plan
Is the Air in Your Home Safe to Breathe?
Coarse Fishing Tackle Review: The JW Young 13ft Trotter Rod
Section 1031 Exchanges For San Diego Real Estate Investors
Phoenix Real Estate Investing For Highest Possible Earnings
Legendary are the Volk Racing TE37 Wheels
Developing the Next Generation Wall Station (ChaseDesk™) for Healthcare - A Case Study
What are step down transformers?
Introducing Sharehype, the Revolutionary Tool for Online Marketers
Rewards To Shopping For Austin Real Estate On The Web
Hydroponics for Beginners



Do you write?

Would you like submit your articles and have them approved on a priority status? Find out more about how you can become a Priority author for pennies a day! Click here.

Dime-co.com Home
  • Business (9328)
  • Computers & The Internet (5740)
  • Entertainment (1348)
  • Family (958)
  • Finance (1963)
  • Health (4246)
  • Home and Living (6670)
  • Marketing (6113)
  • Shopping & Product Reviews (2624)
  • Sports (694)
  • Travel and Vacations (1689)
  • Video Articles (1)
  • Editors Pick (1)