Tuesday, July 14, 2009
Houses prices to stay in doldrums for years
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 (874 views)
3 thoughts on “Houses prices to stay in doldrums for years”
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growler says:
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…
Neil B says:
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.
another alan says:
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.