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Housing market predictions difficult for property insurance holders
08 Mar 2010
Posted by Michael Brown
Landlord property insurance policyholders looking for a solid prediction as to how well the housing market will progress in the coming year are likely to be sorely disappointed.
Paul Collins, property editor of BuyAssocation.co.uk, said that anyone who makes a forecast as to how far prices will fall over the next 18 months is "really just guessing".
"There are so many variables which will lead to a great deal of uncertainty in the market," he commented.
The general election is just one of the factors which will affect property prices and a hung parliament would be particularly bad news, according to the expert.
"Adding to that is the likelihood that interest rates are going to go up," Mr Collins said, adding that nobody knows when this will be and how much they will rise, so cannot make predictions for landlord property insurance policyholders.
The latest Halifax and Nationwide indices showed that house prices fell in February.
