Dou­ble-dip fear for hous­ing mar­ket

Yorkshire Post - Property - - PROPERTY -

THE hous­ing mar­ket could be in for a dou­ble dip, a new Reuters poll of 30 hous­ing mar­ket an­a­lysts found. Two-thirds of those asked pre­dicted a five per cent fall from present lev­els.

One econ­o­mist, John Hawkesworth at Price­Wa­ter­house­Coop­ers, says: “There are likely to be fur­ther falls in house prices over the next year given the damp­en­ing ef­fect of the fis­cal squeeze, re­stricted mort­gage avail­abil­ity and frag­ile house­hold con­fi­dence lev­els.”

Ray Boul­ger, of bro­kers John Char­col, says: “In the short term, the biggest risk to house prices is the FSA’s Mort­gage Mar­ket Re­view.”

The MMR aims to in­tro­duce a new era of re­spon­si­ble lend­ing.

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