UK House Prices to Fall Another 4% - Reuters
Written on 23 Sep, 2011 at 07:01 by Ulyana Chernyak
A poll performed by Reuters on Wednesday, September 21st, UK house prices will fall another 4% next year before stabilising.
The poll was carried out among 23 market watchers; one of them, IHS Global Insight, said that several factors will contribute to the further decline of house prices. Among them are UK fiscal policy, squeezed purchase power, economic instability, and soft labour market.
The only market, which is expected to see increase in house prices, is London. This is because buyers' demand in this city always tends to outstrip supply.
Reuters poll clearly stated that "respondents felt UK house prices were generally still a little overvalued, rating them a median six out of 10 where one was extremely undervalued and 10 was extremely overvalued."
However, certain market experts believe that house prices are close their fair value as no significant falls or rises were registered throughout the year.
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