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Emerald Group Publishing Limited
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House prices not set to reach 2007 peaks for another five years
Article Type: Newsbriefs From: Structural Survey, Volume 28, Issue 2
Keywords: Homes, Prices, United Kingdom
The apparent optimism conveyed by the previous item constrasts with a forecast from the Ernst & Young ITEM Club. UK house prices will not reach their autumn 2007 peaks for at least another five years, according to the forecast. The forecasters say that while data is showing that the housing market is now beginning to stabilise, the recent rise in house prices cannot be sustained beyond the spring of 2010. Only a sustained pick-up in mortgage lending will drive lasting recovery in house prices.