U.K. house prices adjusted for inflation may drop as much as 20 percent in the next five years as the Bank of England raises interest rates and regulators toughen lending rules, the National Institute for Economic and Social Research said. “The prospects for the housing market are very weak indeed over the next five years,” Ray Barrell, director of macroeconomic research and forecasting at Niesr, said at a press briefing in London yesterday. “That will significantly weaken the U.K.’s growth rate.”

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