|
Published:
July 11, 2008
Burnham
estate agent says house prices have fallen to 2006 levels
 Burnham-On-Sea
estate agents say gloomy property forecasts that claim property
values are falling faster now than during the recession of the
1990s are not being seen in our area - although local prices have
fallen back to 2006 levels.
Julian
Frost of Abbott and Frost estate agents in College Street (pictured
right) told Burnham-On-Sea.com on Thursday: "Prices may have
fallen nationally by 6% over the year, but in the 1990s they fell
almost 40% during 2-3 years, so the current falls are not nearly
as steep."
"Here
in Burnham, we've certainly seen some price falls but they're
not nearly as severe as some parts of the country."
"Prices
have fallen back to 2006 levels - but we're continuing to find
buyers and sellers for properties," he said.
"Estate
agents in Burnham are not selling as much as they'd usually expect
at this time of year, but I expect to see a bounce during the
early winter later in the year."
His
comments came after the UK's biggest mortgage lender, the Halifax,
said house prices fell by 2% in June. The
drop meant prices were 6.1% lower than a year ago.
|
