Housing expert slates NHF forecast
by David Masters
Property prices will “really start to improve” in 2010, a housing market expert predicted this week.
Peter O’Donovan, head of mortgages at Bestinvest, made the remark following predictions by the National Housing Federation(NHF) that the housing market will not fully recover until 2014.
The NHF’s forecast, which sees house prices continuing to fall through 2010, is a “bit too long”, O’Donovan said.
“Next year would probably be a more optimistic view to when things really start to improve,” he said.
“The recent increase in purchases that are going through - and the lack of stock - [suggest] that people may come in now and decide that the prices may start increasing.”.
Confidence in the market is set to grow over the next few months, O’Donovan predicted.
The NHF expects property prices to start rising in 2011, with an increase of 1.1%.
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Tags: Bestinvest, forecast, National Housing Federation, NHF, Peter O'Donovan, prediction
