Property price fears for 2011Majority believe house prices will fall in 2011
27 December 2010
More than half of us believe that house prices will fall in the first six months of 2011. The findings, from a survey of 1,948 Which? members, runs contrary to the latest government figures on house prices.
The Which? survey reveals that 54% respondents believe that UK house prices will decrease over the next six months. Just 5% think they will rise. Over 55s and those working in the public sector were most likely to conclude that prices would fall.
House price average tops £200,000
Concerns about future house prices were announced in the same week as the latest UK house price index from the Department of Communities and Local Government was released. These show that UK house prices rose by 5.5 per cent over the year, which could cause problems for anyone looking to take out a mortgage, especially if the Bank of England Base Rate starts to rise in 2011. The average house price is now £209,466.
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