UK housing market could be set for a hit

Posted: 28 Oct 2011 13:18:23 GMT

The euro debt crisis could dent sentiment in the UK housing market.

The housing market in the UK could be set to take a hit in the near future, as the euro debt crisis serves to damage sentiment within the sector.

Jane Marr, company director at the Little House Company - an online direct advertising service - noted the feel-good factor could erode from the industry as more people worry about the future state of their finances.

The industry figure observed demand is likely to drop, leading to a tumble in house prices as they adapt to a loss of strength in the market.

Ms Marr stated: "People will always need to move home and we anticipate that those who need to move will be seeking lower cost alternatives than a traditional estate agent."

Her comments come after Knight Frank recently predicted the average house price in the UK is likely to dip by five per cent in 2012 before returning to growth in 2014.
 

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