UK House Prices to Rebound in 2020

In the opinion of experts at PricewaterhouseCoopers (PwC), the value of UK houses will not reach the 2007-level earlier than in 2020.

The market analysis performed by the company revealed there's only a 12% chance that house prices will rebound in 4 years; the chance that they will do so by 2020, however, is over 50%.

Commenting on the findings, Mr. Hawksworth of PricewaterhouseCoopers, said that the firm expects "average UK house prices to drift down further over the next year and then enjoy only a modest recovery over the next few years." He mentioned, though, that later in the decade, mortgage availability and property supply will return to normal levels, which, in its turn, will positively affect house prices.

Earlier this week we reported that RICS recently published house price report. It suggests that UK property values stayed flat in June.

Detailed report from the Royal Institution of Chartered Surveyors and PricewaterhouseCoopers are available on the companies’ official websites.