A new survey shows most people believe that the property market will continue to struggle in the coming months.
The survey, from property website Rightmove, has 32% of potential buyers thinking that house prices will fall over the coming year compared to 27% who think prices will actually go up. A further 36% think prices will stay unchanged over the next 12 months.
The figures are a stark contrast to those of last year when an overwhelming majority believed that house prices would rise. Of those who thought prices would go down, concerns over the economic climate and household incomes were major factors while there was confidence in the economy amongst the few who thought that house prices would recover.
Miles Shipside, director of Rightmove, said: “After months of speculation, the realities of the government’s Comprehensive Spending Review are upon us and it is clear from this survey that the success or failure of the cuts in the wider economy will have a big impact on the property market.”
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