UK housing market 'will remain slow'

Posted: 20 Dec 2011 15:55:41 GMT

It might take a few more years for the housing market in the UK to return to a healthy state.

The housing market in the UK is likely to remain slow for the next few years at least, it has been suggested.

Selwyn Lim, director of online property information source Mouseprice, claimed he is not as optimistic as others when it comes to the sector's performance in 2012.

The industry figure explained that while the situation could easily improve, it also has the potential to get markedly worse.

He pointed out: "People shouldn't get carried away with thinking that 2012 is going to be a better year for the property market because that may turn out not to be the case."

Moreover, previous recessions - such as the one seen in the late 1980s and early 1990s - have shown that it can often take time before property prices begin to edge upwards again.

Mr Lim was speaking after the National Association of Estate Agents recently predicted a gradual recovery for the housing market in the UK over the next 12 months.
 

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