Experts split on British housing market

LONDON, Dec. 28 (UPI) -- Divided property experts expect home prices in Britain to rise as much as 4 percent or fall as much as 7 percent in 2010.

Real estate research firm Hometrack said prices would likely fall 1 percent in 2010, while Jones Lang Lasalle forecast a 7 percent drop, The Times of London reported Monday.

But the Center for Economics and Business Research, Chestertons and Hamptons are all predicting prices will rise 2 percent to 4 percent in 2010.

Hometrack said new buyer registrations dropped in December, down 2.2 percent, for the first dip in the figure since January, pointing to a scarcity of home buyers.

But conditions vary depending on location. The towns of Surrey and Hertfordshire are finding, respectively, that home sales are closing at 96.1 percent and 95.7 percent of the original asking prices

Still, director of research at Hometrack Richard Donnell, said, "on the basis of the economic outlook and market evidence, we believe it is unlikely that the improved market conditions of 2009 will be replicated in the new year."