28 Jan

Sentance predicts house prices will bounce back

Sentance predicts house prices will bounce back

Andrew Sentence, a member of the Monetary Policy Committee (MPC), has commented that he believes house prices will recover relative to inflation following the recession.

He made the comments at the British Property Federation Conference in London on January 26th, City Wire reported.

The news provider quoted Mr Sentance as saying: "In terms of the balance of demand and supply in residential property, most of the evidence suggests that the current position is closer to the early 1980s than the early 1990s."

He explained that this means the housing market is expected bounce back rather than fall further, noting that MPC fiscal policy had helped to restore confidence to the market and the wider economy.

However, Mr Sentance noted that, in the short term, problems within the banking system would continue to suppress demand for property.

The British Property Federation represents the interests of all those involved in the industry, both in commercial and residential sectors.ADNFCR-1222-ID-19582782-ADNFCR

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