The odds of house prices falling between winter 2006 and 2010 is 33%, so new analysis shows.
Should you take the historic relationship of house prices to earnings then that figure doubles, rendering it more likely that prices are going to fall.
Financial whizz-kids PricewaterhouseCoopers predict that taking the most optimistic scenario means there is a 6% chance that house prices will be lower in 2010 than today.
Given the longer term Pricewaterhouse is much more optimistic with regard to house price growth, forecasting that by 2020 there should be a 87% chance of house prices being higher than today, after taking inflation into account.
Moreover, they state that according scenario house prices are likely to be 20 to 40% more in 2020 than at present.
In spite of the recent healthiness of the UK housing market, would be homebuyers and investors ought not to underestimate its ability to change in the medium term, PricewaterhouseCoopers stated.
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House Prices Likely to Take a Dive
Mon, 06 Nov 2006
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