Recovery should stabilise capital's house prices, CEBR says

New forecasts from the Centre for Economics and Business Research suggest that the housing market in London should stop falling in the next 12 months before starting a recovery by 2005. The outlook is based on findings that City businesses believe the worst of the economic downturn is behind them. If the City starts hiring again – albeit slowly - it will lead the capital's economy out of the downturn, and will have a direct impact on house prices – particularly at the top end of the market, which has seen the steepest deflation. The CEBR has revised up its 2004-5 foreca...