Chill headwinds blast through the housing market - Mortgages, Money - The Independent

Chill headwinds blast through the housing market - Mortgages, Money - The Independent

House prices are either on the edge of a precipice or merely floating gently downwards, depending on which commentator you believe. But next to no one is predicting that the next move in house prices is up.

"The headwinds are negative at present," says Martin Gahbauer, Nationwide's chief economist. "We still have low numbers of sales. As for mortgages, although they are more available than they were a year or so ago, they are nowhere near as numerous as before the credit crunch. What's more, since the summer we have had an oversupply of property compared to the number of buyers, and that generally means a softening in price.".