Saturday, 19 January 2008

Need some reassurance.....

...there are plenty of soothing words about the UK housing market out there. Here are a few choice comments for those who would prefer to sit back and take a relaxed view about the ailing market.

"House prices for the UK as a whole are expected to be flat during 2008 but there are likely to be regional variations. Small price rises are expected in Scotland whilst modest falls are predicted in northern England and the Midlands. These falls should however be viewed in context with the substantial house price rises over the past few years."

Martin Ellis, chief economist at Halifax.

"I don't think we will see house price falls. I just see no reason for it."

Andrew Weir, Foxtons

"Don't panic. You are not going to see all your equity disappear. We expect the market to be steady,"

Martin Ellis, chief economist at Halifax.

“First time buyers, whilst likely to be nervous from recent press comment, have a golden opportunity over the next few months to pick up a bargain from a developer or vendor looking to sell quickly. I would recommend they move quickly to take advantage of reducing interest rates over coming months whilst getting a great property price. The massive shortage of property in the UK will not go away for many years or even decades to come, and prices will strengthen again in due course as a result."

Stuart Law, Chief Executive of Assetz

"There's no doubt that a lot of agents are having a tough time at the moment,"

Peter Bolton King, head of the National Association of Estate Agents.

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