Fear of falling prices hits homes market


	Fear of falling prices hits homes market

JICWyllie

5-13-2008 12:25 PM

181 views

tags:

economy, consumers, housing, i-prices, i-decrease, i-expectations, i-forecast

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/e88e6ccd-b3b3-4fad-9fb1-92ee89f48f53/56DA336C-7432-42BA-9489-F2150DB1E05E/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.ft.com/cms/s/0/5b005dba-2051-11dd-80b4-000077b07658.html" href="http://www.ft.com/cms/s/0/5b005dba-2051-11dd-80b4-000077b07658.html" style="font-size: 11px;">www.ft.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/0/5b005dba-2051-11dd-80b4-000077b07658.html">A growing belief that property prices are falling is deterring both sellers and buyers, leaving <A href="http://www.ft.com/indepth/ukhousing" title="In depth: UK house prices " target="_blank" class="bodystrong">UK housing-market</A> conditions at their loosest since the mid-1990s, according to a survey published on Tuesday.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/0/5b005dba-2051-11dd-80b4-000077b07658.html">Simon Rubinsohn, the institution’s chief economist, said the figures indicated a downturn affecting all areas of the country, whereas the housing crash of the early 1990s had been skewed towards southern regions.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/0/5b005dba-2051-11dd-80b4-000077b07658.html">Rics said fewer homeowners were selling property in all regions except London, the South West and Yorkshire, while inquiries from new buyers were falling at the fastest pace in the 10 years it had records for. The level of completed property sales in the three months to April was a third lower than a year earlier, after 12 months of contraction.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/0/5b005dba-2051-11dd-80b4-000077b07658.html">But prospective buyers will be discouraged by toughening credit conditions. New Bank of England data show the rates that lenders quote for fixed-rate mortgages diverging further from official interest rates.</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/56DA336C-7432-42BA-9489-F2150DB1E05E/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>