DanAronG
Joined: 17 Oct 2008
Posts: 103
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| Posted: Thu Aug 06, 2009 9:57 am Post subject: RICS reverses house price forecast |
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The Royal Institute of Chartered Surveyors (RICS) has reversed it house price prediction for 2009.
Originally RICS predicted a fall of around 10-15% this year, but it now predicts that prices could actually be higher by the end 2009 than they were at the end of 2008.
Brigid O'Leary, senior economist for RICS, states
"There has been a clear change in the housing market over the past few months and, as a result, it is unlikely that we will now see the kind of house price falls widely predicted at the start of the year. Instead, the return of buyer demand and the limited availability of housing on the market could be enough to support prices so it wouldn’t be surprising to actually see prices increase further from here in the short term."
This news coincides with recent reports from both the Nationwide & Halifax house price index, both of which show increases in house prices over the last 3 months. |
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