2008, has seen a marked turn in the performance of the UK housing Market.
House prices have fallen for several months. THe lower prices have been driven lower by
Credit crunch causing a record fall in availability of mortgages. Many would be buyers, simply can't get onto the property ladder because they can't borrow enough.
The housing collapse is not equally spread. It has affected certain areas much more than others. Also the new home build sector has been the most adversely affected sector, with many new flats being unable to be sold.
House prices are likely to keep falling for the foreseeable future as mortgage lending remains very tight.
US House prices fall
Economists predict house price falls of 20%
Why House prices are falling - in depth look
Wednesday, June 25, 2008
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