UK Money News
17th January 2007
Conflicting housing data 'causing confusion'
Prospective buyers and sellers already faced with difficult personal finance decisions are becoming confused by the conflicting data that is emerging on the UK housing market, Fool.co.uk claims.
The personal finance website points to recent reports from the Royal Institution of Chartered Surveyors (Rics) which it claims paint an inconsistent picture of the likely direction of house prices.
"Within the space of a week, Rics has reported that house prices are unlikely to decline materially and it has also said that house price falls have reached levels not seen since the early nineties," said
David Kuo, head of personal finance at Fool.co.uk.
Giving its own take on the market in a report titled Your Finances in 2012, Fool.co.uk predicts that house prices will fall by as much as 20 per cent this year before resuming growth at the long-term rate of eight per cent per year.
This would bring the average cost of a home down to £157,290 by the end of 2008 before rising to £185,410 in 2012.
The report also reveals that as a result of recent falls in house prices 11 per cent of people who are considering buying a property have brought forward their plans.
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