House prices 'on the precipice'
Stephanie Bentley, Daily Mail ... 30 December 2003
OLD on to your hats, homeowners. House prices are going to fall next year. So says City think-tank Capital Economics, which challenges the views of the big building societies and housebuilders.
Capital Economics thinks the property price balloon is about to burst. It predicts that prices are going to crash 20% from their peak over the next three years.
The slump will start in the middle of next year. By the final quarter of 2004, prices will be down 2% on the same three months of this year.
Nonsense, says the Centre for Economics and Business Research consultancy. It cannot see what will trigger a slump and sides with building societies the Nationwide and the Halifax, predicting house price inflation of nearer 8% or 9% next year.
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