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Everyone is getting very gloomy over the housing market

asked by becky thompason posted 3 Years ago at 13:08
There seems to be growing momentum on the view that the housing market is going down. I get slightly confused by contrasting statements like Halifax say that house prices reduced by 3.6% in sept and Nationwide had house prices rise by 0.1%. I'm confused as to why they are so different. Also others are saying the housing market might even fall by up to 10% this year?
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Stephen Pett answered 3 Years ago at 19:47, last modified: 2 Years ago at 14:56
The property market has always been patchy, and will always be.
If the FSA succeed in preventing 46% of existing people with mortgages from getting new ones, and a similar proportion of first time buyers from getting on the housing ladder, it won't just be a 10% fall this year. With buyer numbers potentially almost halved, it will be an economic disaster.
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