‘Flat’ housing market predicted
The property market in the UK is expected to remain flat over the coming year by one housing boss.
Mark Clare, chief executive of Barratt Developments, told the Daily Mail that there will be little change to the price of property in 2008, which could affect those people hoping to secure a mortgage.
House buyers and sellers are not seeing transactions through, he stated.
"I am expecting something like flat prices for the full financial year [to the end of June] and I wouldn't assume it would be very different in the next financial year," Mr Clare remarked.
Further base rate cuts would help the situation, he added.
A fall in house prices was recorded this month by the latest Hometrack survey.
Despite this fifth consecutive fall, a rise in new buyer registrations was recorded by the property index, which could mean demand for housing is increasing.
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