Search
 

No Consensus For Residential in 2003

LONDON-Estate agents and mortgage companies are flatly contradicting each other with data on the residential property market. It makes 2003 a tricky year to call.

By Charlie Jacoby | Updated on December 23, 2002

LONDON-The prediction for residential property in 2003 is that there can be no prediction. Hamptons International managing director Robin Paterson says that the residential property market enters 2003 showing many signs of confusion.

On December 6th the Halifax and Nationwide Residential Indices were showing that increases in the UK property prices were continuing to rise; in November the reported increase had been 2.1%. Yet data from Hamptons’ network of branches covering London, the South and West Country reveals that in these regions the market had started to fall from as early as May. Vendors will therefore remain confused until the residential indices are split into geographic regions across the country.

Paterson believes that prices will fall by between 5% and 10% between January and June 2003, with the market then levelling off and there being a 2% to 3% increase in the second half of the year.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.