16
Aug
Houses for sale in the north 'more susceptible to UK economy'
Homebuyers may be tempted to look for properties in the south after
it was suggested that houses for sale in the north of England are
more likely to fluctuate with the fragile UK economy.
According to Timothy Lambert, head of consulting at Ducalian, while
houses for sale in London are subject to a "bubble" and do not have
the same fluctuations as the rest of England, properties in the
north are more representative of the state of the economy.
"Somewhere such as Sunderland will be much more susceptible to the
UK economy as a whole and can paint a bleaker picture than it is
elsewhere," he stated.
Mr Lambert's comments come after Liam Bailey, head of residential
research at Knight Frank, told the Independent that London's
property market is likely to survive any future dips in the economy
better than other parts of the country.
Mr Bailey added that, as it occurred in the US, areas that are more
economically disadvantaged will "suffer the most from any future
house prices falls".