Lack of immediate house price upturn could boost debt consolidation demand
Lack of immediate house price upturn could boost debt consolidation demand
Tuesday 4th August 2009
Contrary to a number of recent reports pointing to an imminent upturn in house prices across the UK, the National Housing Federation has now predicted that house prices could fall by as much as 12.2 per cent over the course of 2009.
What's more, they are expected to drop by a further 4.6 per cent in 2010, before picking up again slightly in the following year.
As such, this could leave millions of Britons mired in negative equity for the foreseeable future, with many likely to be looking for debt consolidation advice so as to get a handle on their money matters until the housing market recovers.
In particular, debt advice professionals could see an increase in the number of clients keen to pool all their loans and then reorganise their finances in order to make a move.
The National Housing Federation also suggested that the forecast average house price at the end of 2009 will be £189,800.
It warned that homeowners who bought at the peak of the market in 2007 would be the hardest hit, likely facing continued negative equity throughout most of the period from now until 2014.
These latest predictions come soon after Mouseprice reported that homeowners at the bottom of the UK property ladder are likely to be the last to benefit from any upturn in the market.
News article brought to you by Debt1 - The debt consolidation company
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