13 Jul

House prices will return to normal eventually

House prices will return to normal eventually

House prices across the UK are set to remain flat for the next couple of years before picking up in the second half of the decade and returning to normal by the mid 2020s.

According to the latest PricewaterhouseCoopers  (PwC) report, it will take a few years for prices to start picking up thanks to lower inflation levels beginning in 2013.

This will mean that by 2017, the price of homes will have returned to the same cash levels seen before the recession of 2007.

However, the issue with inflation will remain, and in order for the price of homes to achieve relative parity, those looking to sell will need to wait until as late as 2024.

John Hawksworth, chief economist at PwC, said: "House prices should recover later in the decade as confidence is gradually restored, credit conditions ease for first time buyers and underlying housing supply shortages reassert themselves."ADNFCR-1222-ID-801407371-ADNFCR

Cookies We use cookies to ensure that we give you the best experience on our website. To find out more about our cookies policy, see our cookies policy here or in the footer.