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PwC: House prices ‘won’t recover until 2020’

House prices will not reach their pre-crisis levels until 2020, according to new research from PricewaterhouseCoopers.

The accountancy firm said that house prices will still be 12 per cent below their 2007 highs by 2015 and that by 2020 there will only be a 53 per cent chance they will have risen from the 2007 levels by 1 per cent.

PwC chief economist John Hawksworth says: “We expect average UK house prices to drift down further over the next year and then enjoy only a modest recovery over the next few years. This reflects the dampening impact of declining real income levels and continued tight credit conditions for first time buyers in particular.”

The Royal Institute of Chartered Surveyors recently announced that house prices fell in June as demand from buyers stagnated.



TSC’s RDR report due on Saturday

The Treasury select committee’s report on the retail distribution review is to be published this Saturday. The committee launched its review in November and has carried out evidence sessions with FSA chief executive Hector Sants and director of conduct policy Shiela Nicholl and taken written evidence from across the industry. The report will give the committee’s […]


IFAs warn of social project Isa risks

IFAs say proposals to use Isas to fund social projects are likely to be seen as too risky by investors. A report by Labour MP Graham Allen, which was commissioned by Prime Minister David Cameron and published this week, calls for the creation of early intervention funds to help under-privileged groups in society. Allen says […]

MPs make pledge to keep up FCA pressure

The Treasury select committee says it will continue to push for the Financial Conduct Authority to have a primary duty to promote effective competition. Earlier this month, the Government published draft legislation which gave the FCA a duty to promote competition so far as it is compatible with its main objectives, which include facilitating efficiency […]


FSCS admits £4m ad push failed

The Financial Services Compensation Scheme has admitted its £4m advertising campaign has not had a significant impact on levels of consumer awareness of the scheme. It launched its first consumer-awareness campaign in January, with advertising on television, posters, in newspapers and online running until the end of March. The FSCS is aiming to raise level […]

Graphic Content – August

Given the release of employment data from the US on 5 August, we wanted to focus on employment data in this month’s Graphic Content. The Graphic Content below shows us that young and middle-aged workers were hit the hardest by the Great Recession and have never caught up. Since the job market started to recover […]


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