Property search services provider Propertyfinder.com says its April survey of househunters reveals a sharp drop in confidence on the basis deflation will hit the market in the coming 12 months.
Some 64% of the xxx people surveyed says they expect house prices to fall in that period, compared with just 48% saying the same in March. Most of the pessimists lay the blame on expectations of higher interest rates. Overall, prices are expected to drop by 7.7% over the next year, compared with a drop of 2.6% expected in March. Propertyfinder.com says the findings suggest growing fear of unemployment, put in the spotlight by issues such as the collapse of car making at Rover, with expectations higher taxes will take more money out of consumer spending. However, Propertyfinder.c...
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