Well, the surge in British home prices in late 2009 caught most property analysts by surprise. Whoever coined the maxim “never trust an expert” knew what they were talking about which, rather awkwardly, makes them a bit of expert. Anyway, collectively, economists are at sixes and sevens about what might happen in 2010.
Credit where credit is due, property company, Assetz, correctly forecast a rise in prices in late 2009, and confidently forecasts a 5 per cent rise in 2010.
Among the most bearish, Savills forecasts a fall of -6.6 per cent this year (2010). Others like Cluttons are hedging their bets – at best, prices will rise 2 per cent it says, at worst, fall -5 per cent.
What everyone agrees upon is that “haves” will do better than “have nots” - bankers bonuses and foreign investment will buoy the top end of the market in prime central London and the Home Counties, while low wages, unemployment and indebtedness will depress prices lower down elsewhere.
http://globalpropertynews.blogspot.com
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