Home owners may not see any growth in the value of their properties for several years, with some regions next year suffering their first annual price falls for a decade. Sunday Times
Home owners may not see any growth in the value of their properties for several years, with some regions next year suffering their first annual price falls for a decade.
Nationwide is preparing to downgrade its expected house-price growth for 2008 to 0% and growth could be flat for a few years after that.
Previously, it thought prices would rise by 3% or 4% next year, compared with growth of 9% at present, but it now fears prices will flatline as slower economic growth and the global credit crunch take their toll. The society will make a formal forecast next month.
No comments yet