Tuesday, July 14, 2009
Startling insights from Auntie Beeb
The sluggish UK economy is likely to mean that house prices will not see any "meaningful" recovery for some time, two separate surveys suggest. There will be no "sustained" upturn until mortgages become more available, the Royal Institution of Chartered Surveyors (RICS) says. Meanwhile, PricewaterhouseCoopers has warned further price falls are likely in 2009 and 2010. The government's own house price survey reported property values fell in May.