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CBI HOUSE PRICE FORECASTS ARE FLAWED

23rd September 2009 | back to article listings BACK    print this article PRINT

Stuart Law, Chief Executive of Assetz comments:

"The CBI's house price forecast announced yesterday, predicting 9.8% house price falls by the end of 2009, is illogical and cannot possibly be based on justifiable calculations.

"All the major house price indices are now showing consistent month on month growth and Assetz House Price Watch, which is based upon the UK's main five indices, is now showing that house prices are over 1.5% higher than in January this year. It would be virtually impossible for house prices to fall by almost 10% in the three months to the end of December and it is hard to imagine how the CBI arrived at this figure, which implies a greater rate of fall than was witnessed even in the state of panic last year.

"More worrying is the fact that this prediction is clearly at odds with the CBI's own view in their release that the economy as a whole is gradually improving. Random sound bites such as these are unhelpful in this sensitive market which is beginning to find its feet."


This is a press release by Assetz also available at http://press.assetz.co.uk/articles/5026.html. Alternatively, please see our full press release archive.

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