House prices are perceived to have fallen again this month, for the 19th consecutive month.
The Knight Frank/Markit report this morning said that in its latest survey of 1,500 households, property values were perceived to have fallen throughout the UK, including London.
Only 5% of people thought the value of their home had risen over the last month.
More house price falls are widely expected, although a small majority of households in London, the South-East and Scotland think they will rise. The biggest price drops are anticipated in the North-East and Wales.
People who are particularly pessimistic about house price falls are those working in the banking and business services sectors.
Grainne Gilmore, head of UK residential research at Knight Frank, said: “There is little cheer among households this month, perhaps reflecting the wider economic uncertainty throughout the UK, with fears that the country may be back in recession compounded by this week’s alarming unemployment figures.”
Comments
"Only 5% of people thought the value of their home had risen over the last month."
5% of people live in Ga Ga Land beneath the shade of the wibbly wobbly dum-dum tree.
Prices will really fall if rantrave gets his way and make borrowing to buy property illegal!! What a chump!
You forgot the 'n' Brian.
Still, it's an honour to have a phantom poster using my name. I believe Rosalind removes such posts though...
You used to be above all of this Fun Boy Agent. Disappointing to see you stoop to such a level. What was it? One BTL too many? Bought a place in 2007? It's an anonymous site, so you can tell us what personal circumstances have turned you against the lower prices that many other EAs would welcome right now.
At anon, how rude that’s me!. I am an idiot and proud to aspire to be even thicker.
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HPC posters post up here please.
This is the HPC story to get the comments from the HPCers. This page is designed for them to congregate and spread and share their bile with each other. Please only use this page for comments if you are a HPC idiot.
Exanples below.
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Bankers are also the people who got it wrong previously and caused most of the current finacial problems - why should they be right now..
"People who are particularly pessimistic about house price falls are those working in banking..."
That's a very telling quote, given that these are the people who control the mortgage purse strings.