News article: House Values

As estimates for the domestic economy continue to look gloomy, with the prospect of increasing redundancies and job losses across many sectors of the national economy, this will continue to have an effect on residential house values which will continue to fall. The ability to stabilise house prices will in part depend on the banks willingness to advance mortgage monies to assist purchase and restore demand to this sector. It could well be 2010 before we will see a confident recovery in house values. The period until then will provide good value purchase opportunities for fortunate cash buyers not dependent on borrowings.