RLA News Service » Blog Archive » House prices ‘likely to fall’
House prices are likely to decline in the immediate future.
This is according to Firstrung chief executive officer Paul Holmes, who said they will “spectacularly fall”.
Reductions in value of an estimated 33 per cent are likely to occur during the next three years, the expert predicted.
He suggested people with buy to let mortgages or other property investors “pencil in an on average one per cent fall per month”, with this continuing for three years.
The loss will not be smooth and the price of this asset class is likely to rise and drop in a “jagged” curve, Mr Holmes stated.
First-time buyers could benefit from these market trends, he pointed out, claiming there is unlikely to be any “good news” for those individuals who would like residential real estate values to increase.
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