Lettings firm fears further drop in house prices > Local News > News | Click Liverpool
A leading city lettings firm warns that the property prices could plummet further.
Bluerow Lettings warns that sellers are cutting house prices by more than 8% in some areas and with new mortgage applications at low levels, house prices look set to drop further.
Helen Griffin Booth, managing director of Bluerow Lettings said: “House prices have dropped by as much as 8% in the North West and I believe this will continue until house prices reach more realistic levels.”
According to Helen the housing market is effectively frozen at the moment, with banks not lending freely and first time buyers finding it extremely difficult to get onto the property ladder. This has had a knock on effect through the market with home owners further up the ladder unable to sell their properties and move on.
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