Good News for Housing market
May 19th, 2008 by 
Guy
Two recent surveys have today given some much needed good news to the property market.
Rightmove’s house price survey claimed the average asking price for property is up by 1.2%. Of course there are still areas around the country where prices went down, with prices in the south tending to hide those of the rest of the UK.
The latest survey from the Royal Institution of Chartered Surveyors (RICS) predicts that prices may fall by 5% in 2008. Whilst this may not sound like great news, it is a good deal better than the previous predictions of 30% drops.
HoweThe report also said it believed that property sales may fall by up to 40% during 2008, which is bad news for anyone hoping to sell this year.
Rics chief economist Simon Rubinsohn said: “This could have important ramifications for the wider economy, not only hitting the property industry directly, but also impacting on a broad range of related sectors whether that is the high street purveyors of home furnishings and white goods or financial intermediaries involved in providing mortgage advise.”
Posted in Mortgage news | 