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Nationwide expects further house price falls

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  • Property Prices
    started a topic Nationwide expects further house price falls

    Nationwide expects further house price falls

    The Nationwide, Britain’s largest building society, said today it expects house prices to continue falling into next year and possibly 2010.Nationwide’s chief executive, Graham Beale, is expecting a peak to trough decline of 25%. The announcement comes after the Society reported that underlying pre-tax profits for the half-year to the end of September were down [...]

    More: Nationwide expects further house price falls

  • Paul_MN
    replied
    You wont stimulate a significant increase in demand until more 90-95% LTV mortgages start coming back.....at the moment they are still disappearing which is pricing most FTB out of the market.

    Regardless of how good the mortgage rates get, if you still need a massive deposit there are only a small percentage of FTB who can afford them.

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  • brian
    replied
    I figure you'd have to be pretty pushed to buy in a downturn. Either that or speculating!

    Leave a comment:


  • theresa1906
    replied
    Even if they do, will the banks actually pass the cuts on to the customers?

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  • Scott Butcher
    replied
    I was hoping the rate cuts might have stimulated demand a little, but I guess the lack of any new tracker rates and the fact that fixed rates are still between 5.5% & 7% isn't exactly going to stimulate anything.

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