Huge Fall in Home Sales Forecast
Hometrack has forecast a huge fall in home sales next year, with sales plunging by 17% in 2008. However, it reassured home owners that it did not expect prices to fall.Hometrack warns that with homeowners stretched to almost record levels with mortgage payments, house price inflation was already slowing. But it warns that the risk of a US style crash is unlikely. Instead, they forecast that property transactions rather than prices will be the main casualty of the slowdown.
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