BGN Entrepreneur

House prices continue to fall in the near future, has proposed the Nationwide Building Society.

The lender said potential buyers were discouraged by the uncertainty caused by the government, public spending cuts generated. However, said price reductions would not be as large as in 2008 because of low interest rates, mortgage default and foreclosure is limited.

The company has its half-year profits rise by 81% to EUR. “In the housing market, the conditions have slowed noticeably in the last six months, with both a decrease in demand and buyers, a slight downward trend in house prices,” said Nationwide chief Graham Beale.

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