Jones Lang LaSalle, the property adviser, said the recent UK House price market stabilisation looked unsustainable and forecast that prices would drop about 7 per cent next year.
In this short video, we look at a few reasons why house prices crashed in 2007 and why they have recovered a little this year.
Some useful House price statistics here:
In particular the ratio of house price to incomes is interesting. For first time buyers, the ratio of house price to incomes fell to 2.5 in 1995, but, then increased to 5.4 in 2007. It has now fallen to just over 4.1.
Related
- UK House price rise 2009
- More in depth look at Why House prices have stopped falling
2 comments ↓
Jones Lange LaSalle have taken a cautious view and only time will tell. Certainly any increase in interest rates will serve to dampen the market.
http://www.thebigpropertylist.com/2009/12/are-you-wondering-how-much-will-my.html
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