ED STANSFIELD | CAPITAL ECONOMICS
We forecast the Nationwide survey to be five per cent lower at the end of this year compared to December 2009 and the outlook remains downbeat for 2011. The market has softened already before we have seen any real fiscal tightening. Although London is likely to remain resilient in the short term, it is likely it will see bigger-than-average falls.
CATHERINE PENMAN | CARTER JONAS
The overall picture is definitely one of decline with fewer enquiries and the conversion of applicants to successful sales falling. We are not forecasting a fall off a cliff but we think the slowdown will continue. After a buoyant spring, the market has struggled to get going again. Public sector cuts are going to have a significant effect.
PETER ROLLINGS | MARSH & PARSONS
At the start of 2010 I said that the London market would be five to seven per cent higher by the end of the year. Although public sector cuts will slow the national market, I think we will see a six or seven per cent increase on London prices this year. We have had a surprisingly good August, which is typically quiet. There's plenty of demand and at last supply is coming back.