Housing Forecasts for 2009

RICS and Council of Mortgage Lenders have published their housing forecasts for 2009.

RICS predicts further falls of between 10%-15%  in 2009 but notes that due to  the particular volatility being experienced in the market at present,  accuracy will be more difficult than usual this year. Suggests that transactions will increase slightly and that new starts in England will drop below 80 000. Examines some of the key drivers for the housing market for 2009 including the availability of credit, affordability and housing supply.

CML predicts a subdued year for the market with a fall in completed transactions and a negative borrowing balance as mortgage paymetns overtake new mortgages.

RICS publishes a range of Market Commentaries and Analyses.

If you aware of any other forecasts or market commentaries for 2009, we could be pleased to hear from you.