Developers see coming improvements in market

Half of all developers are predicting that house prices will stabilise by the end of the year, according to a survey by Smartnewhomes.com. The majority thought the downturn would not last beyond 2010, but a quarter of respondents predicted a further fall of 50 per cent in the number of new developments to be started this year would occur. The vast majority – more than 70 per cent – rated the government’s efforts to boost the industry as entirely ineffective, and they highlighted the lack of mortgage finance as a major barrier.