Gloomy 2009 forecast

Homeowners have suggested that the housing gloom seen this year will be present in 2009 as well.

A poll by online property firm Simplyzigzag.com showed that over half of homeowners believe their property will be worth less a year from now than it is at present.

In addition to this, 44.6 per cent believe their home will lose as much as ten per cent or more of its value.

Should such an ongoing slump occur, those who are best able to maintain the value of their properties may be those who carry out renovation work on it, adding value through measures such as loft extensions or new kitchens and bathrooms.

Some may start planning ahead for such eventualities.

Last week Halifax revealed that UK house prices have fallen by 8.8 per cent in the past year, with a monthly dip of 1.7 per cent in July.