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UK House Prices Will Take Four Years To Recover

A report commissioned for the ITV Tonight show suggests that many economists fear the UK housing market will take at least 4 years to return to recent peak levels. The majority of those questioned believe that UK prices will fall between 6% and 10% this year but there are some fearing the worst with falls of up to 30% being suggested by some. Either way it looks as though the UK housing market will have a fairly long path to the top of the property mountain, a peak which was reached in 2007.

While the information contained in the survey was not wholly unexpected, there are fears that the number of home owners in the UK subjected to negative equity will increase in the short term. A slowing economy will also add to the problems of many and it looks as though housing repossessions are set to increase substantially in the short to medium term.

The signs are that even investors with funds to invest are waiting on the property sidelines hoping that they will be able to pick up bargains at much lower levels. While there is no real sign of distressed selling at the moment, there are many people in very difficult positions to say the least – not helped by the ever increasing cost of living.

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