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 New research has today (June 23rd) suggested that over half of potential homebuyers in the UK feel the present slump is set to continue for at least another two years.
A poll by FindaProperty.com revealed that 32 per cent believe that the current crash in prices could last for up to two years, while a further 20 per cent claimed that the downturn will last even longer.
In addition, 24 per cent of respondents predicted falls of 15 to 20 per cent from the peak prices of 2007, while 12 per cent forecast decreases of over 20 per cent for their properties.
Michael O'Flynn, the website's content editor, said: "The figures here make very interesting reading. The majority think house prices will fall by ten to 15 per cent and on average feel that the current problems will last around a year or two."
The research also showed that 33 per cent could see falls of ten to 15 per cent, while 26 per cent suggested drops of five to ten per cent were more likely.
Last week, a study from HBOS indicated that house prices would fall by nine per cent in 2008 alone.
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