A prominent research chief at a leading agency has repeated his claim that average UK house prices are set to drop 10 per cent in the next two years.
Tom Bill, head of UK residential research at Knight Frank, made the claim for a second time over the weekend in response to the latest Halifax house price data.
Bill says: “It’s a fairly safe bet that UK house prices have now peaked. The impact of rising mortgage rates will begin to hit demand and spending power in coming months, which we believe will lead to a fall of 10 per cent over the next two years for UK prices.
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