Real re­cov­ery could take un­til 2015

Yorkshire Post - Property - - PROPERTY -

Price Wa­ter house Coop­ers say that there is a 70 per cent chance that UK house prices will still be be­low peak 2007 lev­els in 2015 in real terms, de­spite a con­tin­ued ex­pected re­cov­ery in house prices in cash terms.

House prices in 2010 may be around five per cent higher in cash terms than in 2009, but this im­plies fairly flat house prices in the sec­ond half of this year, ac­cord­ing to PwC’s UK Eco­nomic Out­look re­port.

The anal­y­sis also high­lights the high de­gree of un­cer­tainty over fu­ture house price prospects, em­pha­sis­ing that hous­ing is a risky as­set that is not guar­an­teed to gen­er­ate pos­i­tive real re­turns in the fu­ture.

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