2010 will see ‘a great deal of uncertainty in the housing market’

Posted: 08 Mar 2010 10:24:44 GMT

Over the coming 18 months there is set to be a "great deal of uncertainty" in the UK housing market, according to one expert.

Paul Collins, editor of BuyAssociation.co.uk, says that anyone who comments on the way that the property sector is heading would be purely speculating, as there is no way that anyone can predict the course of the market.

He states that the upcoming general election could become a variable in the state of the housing sector, with the possibility of a hung parliament being "particularly bad news".

"Adding to that is the likelihood that interest rates are going to go up - and again nobody knows when or by how much," Mr Collins advises.

His comments come in response to recent figures from the latest Halifax House Price Index, which showed that house prices fell by 1.5 per cent in February, marking the first decline since June 2009.

However, prices in the three months to February were a total of 1.8 per cent higher than the previous quarter.

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