You are here: cherry > Press releases for May 2011 > Comments from Nick Hopkinson, Director of property company, PPR Estates, on today’s Halifax House Price Index for April.

09 May 2011

Nick Hopkinson, Director of PPR Estates, comments: “As well as the recent estate agent surveys, even the lending banks are tacitly admitting that it’s now a buyer’s market when it comes to setting UK house prices. This latest data from one of the biggest mortgage lenders confirms once again just how little buyer confidence there currently is in future house prices. A recent slight drop in the recent unemployment data will be little comfort to many households struggling under ballooning inflation, austerity cuts and tax rises going forward. “Anyone needing to sell their property in 2011 will have to accept the reality that prices are on the way down now. Competent selling agents will be advising clients to cut selling prices fast if they really need to sell. We are now well into the busiest time of year and things are not going to get any better for homeowners. When interest rates eventually go up house prices will come under further downward pressure for sure. If sellers don’t move quickly at a realistic price they should accept that they probably will not be moving house for at least another year, possibly much longer. ” If you would like to speak to Nick, you can contact him on 07768 144497. ENDS

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