Estate agents predict slow-moving housing market in 2010
HOUSE prices in Wales are expected to remain at a near standstill in 2010.
The Royal Institute of Chartered Surveyors said the housing market would continue to face difficult challenges in the year ahead.
It predicted that house prices would rise by between 1% and 2% – the same rate of growth seen this year. Former president of the National Association of Estate Agents, Melfyn Williams said: “The first six months of the year will be slow.
“It is not going to change at the flick of a switch. It’s going to take a bit of time.
“Over the next year we will probably see something similar to this year. At the moment demand far outweighs supply.
“However, it will creep up slowly in the right direction.
“Properties at the most competitive prices will be the most attractive. Those that are priced wrongly won’t sell.”
Tony Filice, director of Kelvin Francis estate agents, said: “The fact that house prices are predicted to stay the same is good. Our only concern would be if they began to fall. The fact the economy is not growing much means that less people will chose to move house and the result is that house prices slow down.
“However, there are properties out there for people at fair prices. Our advice to people thinking of buying is to jump aboard the market because prices will go up.”
Nigel Jones, director of John Francis estate agents, which is based in West Wales, said: “I do not see the housing market improving until after the election [due by May 2010] when the uncertainty will be taken away.”
Source: Wales Online.co.uk
HOUSE prices in Wales are expected to remain at a near standstill in 2010.
The Royal Institute of Chartered Surveyors said the housing market would continue to face difficult challenges in the year ahead.
It predicted that house prices would rise by between 1% and 2% – the same rate of growth seen this year. Former president of the National Association of Estate Agents, Melfyn Williams said: “The first six months of the year will be slow.
“It is not going to change at the flick of a switch. It’s going to take a bit of time.
“Over the next year we will probably see something similar to this year. At the moment demand far outweighs supply.
“However, it will creep up slowly in the right direction.
“Properties at the most competitive prices will be the most attractive. Those that are priced wrongly won’t sell.”
Tony Filice, director of Kelvin Francis estate agents, said: “The fact that house prices are predicted to stay the same is good. Our only concern would be if they began to fall. The fact the economy is not growing much means that less people will chose to move house and the result is that house prices slow down.
“However, there are properties out there for people at fair prices. Our advice to people thinking of buying is to jump aboard the market because prices will go up.”
Nigel Jones, director of John Francis estate agents, which is based in West Wales, said: “I do not see the housing market improving until after the election [due by May 2010] when the uncertainty will be taken away.”
Source: Wales Online.co.uk
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Tags: Property news
This entry was posted on Wednesday, December 23rd, 2009 at 15:25 and is filed under Property news.
