75% of homeowners do not think house prices will fall any further in 2009 according to a survey ran by Rightmove. Miles Shipside said that this optimism is down to "a general feeling" that the housing market has bottomed.
I think it is more down to the type of website that Rightmove is. Yes, Rightmove has a massive share of the UK property sales market, and most properties sold throughout the UK, will be advertised on Rightmove.
But we must not forget that Rightmove it is a property sales site, so the people who have taken the Rightmove survey are the people who have decided to sell their house, and therefore the people who have a certain degree of faith in the housing market and house prices. I think that is what has been reflected in the results of the survey.
Another factor I can't ignore is the fact that Rightmove does not allow private sellers to advertise their properties on the site, it is 100% estate agent. So you have to consider that any survey conducted by Rightmove may be influenced by estate agents who wish to create a positive market.
