A 25 per cent drop in UK house prices still can’t be “ruled out” according to an industry poll. Results of a survey by news site headlineproperty showed many journalists and experts in the sector expect prices to slide further below 2007′s record highs.
Poll participants were asked whether they agreed or disagreed with the idea that UK house prices could fall by as much as 25 per cent from the levels being achieved last August. A total of 68 per cent agreed such a fall was still on the cards over the coming months.
Headlineproperty said:
“Splitting out the figures further, 75 per cent of property journalists said they believed a 25 per cent fall in prices was possible, while 59 per cent of industry professionals also agreed a fall of this magnitude could occur.”
The site also asked those who did not believe there would be a 25 per cent drop what they thought about house prices. Of this group, the average house price forecast for August this year was £182,000 and £182,000 a year later, suggesting there are some property commentators who think the market will soon flatten and begin to recover over the next 12 months.
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