Monday 25 February 2008

60% expect prices to decrease.

Approximately 60% of those surveyed expect property prices to decrease this year with 30% expecting no change. Only 40% of respondents expect interest rates to rise in 2008 while over 60% stated that they felt there was value in property in the current climate. The vast majority of those hoping to purchase a home this year will require financial support from a lending agency, however, nearly 40% of the sample had not yet addressed this matter.