Two Bristol property experts are forecasting that house prices are to drop in "a difficult year ahead". This comes as the Bank of England forecast the UK will fall into a recession this year, with inflation rising above 10 per cent for the first time since the 1980s back in July while the energy price cap nearly doubled last month.
Property experts have now predicted what they believe will happen with property prices in the city over the next few months. Robert Payne, director of Langley House Mortgages, said: "The number of properties coming to market in Bristol has reduced but there is enough to keep estate agents busy.
"The properties that are coming to market are not flying off the shelves like they were a few months ago but they are still going for asking price, at reasonable speed. There is a sense of apprehension though within the market that we could be seeing the tip of an unwanted iceberg and if the reduction in activity continues in the same linear momentum we could be faced with a difficult year ahead, so it wouldn’t be unreasonable to expect a slight reduction in house prices after such sharp increases.
