We hope agents haven’t been losing too much sleep over yesterday’s reports that house prices will fall next year.
According to the Centre for Economics and Business Research, next year will be a “turning point” for the housing market.
However, prices will go up – by 7.8% – this year, before they fall by – brace yourselves – 0.8% next.
That means that an average(ish) house price of £170,000 at the start of 2014 would go up £13,260 this year.
And then fall back all of £1,466 next year.
Still, the headlines were scary.
And if you want to know what CEBR said this time last year, it said house prices would rise by 2.9% in 2013, and 3.9% this year.
Funny how it hasn’t drawn our attention to the accuracy of its forecasts.
Comments (4)
I, for one, am rooting for CEBR to actually call the market correctly.
One day, maybe… if I live long enough, they just might! ;o)
Its in the evening papers
Its in the evening news
Its in black and white so it must be RIGHT
Would they ever LIE to you.
mel
What amazes me is why anyone listens to so called "economic groups" or "professional forecasters" Just look at the RICS' last 10 years predictions which are all woefully out…….You see making predictions is really hard, especially if they are predictions about what will happen in the future.!
Daily mail scaremongering? Don't believe it!