I guess we are all getting a bit fed up with so called ‘experts’ predicting how much house prices in the UK will fall and over what length of time.
The Halifax seem always to be at the forefront, maybe that is based on their market share of mortgage lending or their experience as Estate Agents, I don’t really know. And to be honest in reality I don’t expect they have much idea either.
It is true that historically Estate Agents have driven the UK market, we have put our faith in them as professionals and they have guided us in return over pricing strategy and most importantly their commission charges.
During the last price fall it was the same. Every day some expert would tell us something different and the only joy was seeing the estate agents suffering.
But they didn’t suffer for long. No sooner had we snapped out of the recession, that repossesed many of our homes and ended up as years of misery for some paying back negative equity, than the estate agents were once again pushing prices to ever new record highs.
Call me a sceptic, but I forecast exactly that happening once again.
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