Property Today

Property News

Published Date: 12 May 2008

How would you feel if the value of your property went down?

We're not scared of house price falls

Seems that we're not as scared of falls in house prices as the national media would like to make us believe.

A new survey for the BBC has revealed that only a fifth of people want house prices to rise.

22 per cent of the 1,000 people quizzed were happy to see them go up. 28 per cent wanted prices to fall.

But the vast majority of those questioned – 46 per cent – wanted prices to stay at their current levels.

The poll was done by ICM on behalf of the BBC show The Truth About Property.

Those quizzed were asked if they would cut back on household spending such as food and clothing if house prices fell by 10 per cent or more.

60 per cent said it would make no difference to them. And 38 per cent believed they would be forced to cut back.

The TV show examines how crash proof Britain's homeowners are, and what kind of price falls they could withstand.

It's thought some could actually benefit. A third of homeowners don't have a mortgage on their home.

Last Updated: 12 May 2008 01:26 PM

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