Tuesday, Jul 14, 2009
Houses prices to stay in doldrums for years
The Guardian: House Prices will stay in the doldrums for years
Britain's housing market will stay in the doldrums until the middle of the next decade, and there is a 30% chance that prices will take until 2020 to return to their peak before the crash, a consultancy firm predicted today .
PricewaterhouseCoopers said recent signs of a recovery in the market which had been detected by a fresh survey of estate agents released this morning were a "false dawn". John Hawksworth, the chief economist at PWC, said prices would experience a gentle decline for the next 18 months and then pick up slowly over the following years.
Posted by britonia @ 05:18 AM (510 views) Add Comment
3 Comments
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1. growler said...
Quite a telling report, and interesting to read the view of PWC back in November 2006: http://business.timesonline.co.uk/tol/business/economics/article622532.ece
Maybe PWC are not so bad after all...
2. Neil B said...
This article seems to mix 2 things together: The housing market and property prices. While its probably a very good prediction on house prices only reaching 2007 prices again around 2020, there is no way that the housing market can stay 'in the doldrums' as there is a huge impact on the economy and unemployment figures.
3. another alan said...
I've just posted a comment on the Guardian site reminding everyone of the 10 times income for house prices comment!
One of my favourites regarding housing.