Housing market set for a chilly autumn | Business | The Guardian

Housing market set for a chilly autumn | Business | The Guardian

Alarm bells are ringing over the health of the housing market after Hometrack, the property data company, forecast steeper falls in prices this autumn – with the latest figures showing a 3.6% annual fall in August.

Hometrack's prediction will fuel the view of bearish commentators that UK house prices are still some way from the trough, despite falls of about 10% since the credit crunch.

Richard Donnell, Hometrack's director of research, said: "Weak consumer sentiment, pressure on household incomes and the uncertain economic outlook are likely to see demand weaken further over the remainder of the year. This is likely to accelerate the downward pressure on prices over the autumn months."