DO YOU EXPECT UK HOUSE PRICES TO KEEP FALLING?
HOWARD ARCHER IHS GLOBAL INSIGHT
“We expect house prices to fall by around another 15 per cent from their current levels to bottom out around mid-2010. This would leave them some 35 per cent below the peak levels seen around August/September 2007.”
MICHAEL SAUNDERS CITIGROUP
“While housing is past the worst, the recovery in housing activity is likely to remain modest near term. The key problem is not mortgage rates, but the drop in loan-to-value ratios and hence the rise in the level of deposits required to get a mortgage.”
SEEMA SHAH CAPITAL ECONOMICS
“We expect prices to continue falling throughout this year and into 2010 as well. This is largely based on the awful outlook as we expect the economy to continue contracting and for unemployment to rise quite sharply.”