A government report has indicated that in 2009 property prices in the UK increase by 2.9 percent. The data comes from the most recent government house price survey. (more…)
Tags: Housing market crisis in the United Kingdom, property market, house price, Department for CommunitiesA financial industry expert, who also worked as an advisor to the government, has predicted that house prices in the UK could plummet by 20% over the next couple of years, providing a gloomy outlook for homeowners. The average property price could plummet from £200,000 to just £160,000 if the predictions of Professor David Miles are correct, and homeowner that have recently purchased properties and paid the current high prices could soon find that their properties are worth far less than they paid for them. (more…)
Tags: house price, credit crunch, economy