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'house Prices Set To Fall Further' Warning

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'House prices set to fall further' warning

House prices could fall further next year in spite of recent signs of recovery economists at accountants PricewaterhouseCoopers have warned, although any decline would be at a slower rate.

The latest PwC UK Economic Outlook suggests average UK house prices are likely to fall further between 2009 and 2010.

Prices are projected to be broadly flat in 2011 and to recover only gradually after that, but there is uncertainty around the longer term projections.

Steve Denison, PwC Northern chairman said: “Although the estimated average UK house price overvaluation of around 25 per cent in mid-2007 has now been largely eliminated, our analysis suggests that house prices could still have further to fall over the next year.

“Despite some recent reports of rises, we are not out of the woods yet by any means. It is important for buyers to take a long-term rather than a short-term view.

“The pace of recovery in house prices seems likely to be relatively modest until the middle of the next decade, although it could pick up again beyond that as supply shortages re-assert them-selves, credit conditions return to normal and negative memories of the current housing bust fade.â€

The usual PWC smack in the face realism tact.

Sorry Sibley, things aren't going to get any better for you. It appears you are the only bull-troll left in the forum too! What an honoured place you have dear.

EDIT: Referenced to proper agency!

Edited by cashinmattress

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