House prices on to fight by 2020

Category: Mortgages
Date: 12/07/2011

House - and expect owners of their property values, to hit the heights of 2007 up to 2020 should not be, PricewaterhouseCoopers (PwC) has warned.

The company worked out that it only a 12% chance that house prices until 2015, 2007 have returned her, while it is slightly more than 50% chance that they will do this by 2020.

"We expect average UK House prices drifting further down in the next year and enjoy only a modest recovery in the next few years," said John Hawksworth, Chief Economist at PwC.

"This reflects the dampening effects of the declining real income levels and tight credit conditions for first-time buyers in particular continued."

"Later in the Decade, however we expect greater house price growth and supply shortages themselves confirm availability of credit is gradually to more normal levels." "But is it long slow one way for the recovery."

There are a number of potential winners and losers should demonstrate the predictions right.

House buyers, including first-time buyers, with deposits will likely benefit from low interest rates, while people from in and around London to other regions can expect to get more for their money.

On the other hand, looking up can have people looking on the move South-East, including London from other regions and first-time buyers expect without deposits.

Figures today from the Royal institution of Chartered Surveyors indicate that only London property prices increase has seen last year.

"With continuing uncertainty about the labour market and the economy, this subdued picture is still," said spokesman of RICS housing, Alan Collett.

"London remains a market with sales and prices, a higher level of resistance apart."

Figures showed that the UK housing market faced a stalemate in June, because demand could not pick up and delivery of new property fell back.

Demand, showed how they were in may; little change for property in June with new buyer enquiries Demand has been in fact largely flat for the past six months.

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Source: moneyfacts.co.uk