Rocky road ahead warns agent
Realistic estate agents are putting the champagne back on ice, according to North Yorkshire estate agent Peter Illingworth.
He says: “Many people thought that a buoyant property market had returned. In many places prices had regained some losses from 2007 levels and there was strong demand. But that has slackened off; mortgage lending is at a sixmonth low; harsh economic measures are ahead and, despite low interest rates and helpful noises from the IMF that the British economy is looking better, few are deceived into thinking that the next 12 months or so won’t be a challenge for most of us.”