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Rightmove expect UK House Prices to drop

According to a survey by property website Rightmove, house prices though they have risen for the first 6 months of 2010 are expected to fall back in the second half of the year.

Rightmove - house prices will fall

Rightmove expect UK House Prices to drop

Why this glum conclusion? With several factors effecting the UK house market in the last few months including HIPS being abolished and an emergency budget after a new governement understandably the house market will have been affected.

It’s noteworthy that more properties are now on the market as the HIPS makes it a lot easier to put property on the market without paying an extra charge. Some are concerned that this will lead to the quality of property falling and then add to this the rise in Capital Gains Tax and continuing mortgage famine, you can see why experts expect the market to turn.

Rightmove claim there is greater competition among sellers and a lack of potential buyers. Asking prices have risen, but the rest of the year has many factors that are likely to put an end to a 2010 recovery in house prices.

posted by Zane in Home,Houses,Property,Rightmove and have No Comments

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