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Deloitte Forecast Property Slump Until 2010

Respected accountant Deloitte has plunged the property market into further chaos by suggesting that the ongoing slump in prices will last up until 2010 and see prices down one third from their recent highs. The move has scotched hopes of a sharp bounce in the sector given the recent takeover interest of late and hopes that more bids would follow.

However on the upside Deloitte feel that the fall in the value of sterling will offer exporters a window of opportunity which will see them rebalance the economy in due course. As export prices continue to fall relative to overseas markets this should help to steady the employment cycle which is set to downturn sharply over the next few months.

This latest phase of the economic slowdown has shown how complicated an issue the UK economy really is and the fact that one short term fix can have a detrimental impact upon other areas of the economy. An example is sterling and the fact that a rise in rates to combat inflation would see UK exporters become less competitive and thereby plunge that sector into trouble.

From the sidelines it can all seem so very easy but the government are in the firing line and under pressure from all angles.

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