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18-Jan-08
A member of the Bank of England's Monetary Policy Committee (MPC) has hinted that he supports a cut to the base rate of interest sooner rather than later.Deputy governor of the Bank and MPC member Sir John Gieve hinted at his support for a reduction durin...
Market is stronger than it was in the 90s
18-Jan-08
We are not about to see a property price crash on the scale seen in the 1990s, according to one expert.CB Richard Ellis believes that prices will actually rise by around three per cent in 2008, reports the Telegraph.The firm is confident that prices will ...
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London airport expansion will boost house prices
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Brits overspend on home improvements
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Print this articleMarket is stronger than it was in the 90s
18-Jan-08
We are not about to see a property price crash on the scale seen in the 1990s, according to one expert.
CB Richard Ellis believes that prices will actually rise by around three per cent in 2008, reports the Telegraph.
The firm is confident that prices will increase and said that doomsayers who predict price falls this year have failed to look at the strong fundamentals which support the UK housing market.
"This is not a repeat of the 1990s crash, as housing equity and employment rates are at an all-time high and interest rates remain low," said Jennet Siebrits from CD Richards.
"With the benign economic backdrop and unique nature of the housing market, we do not envisage forced sales and repossessions spiralling. Instead, we expect a think market in 2008 with lower levels of transactions," she continued.
The firm is also confident that London will be the best performing region in the year ahead, forecasting six per cent growth for the capital.
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