The slide in house prices will continue for at least three years and crush the value of a home by almost 50% in real terms, according to a key index of property price futures, The Guardian reports.
Indications from futures trading on long term property prices shows that the average UK home will recover its current value only in 2017. By the end of this year prices will be down by 10% and by a further 10.5% in 2009, according to the index. Prices will keep dropping through 2010 and cut values by 23.5% when they hit rock bottom in 2011. House prices will then begin a slow climb back to current market values over a period of about six years. RECORD SURGES IN crude prices have propelled the world into an era in which oil may never be cheap again and energy security will become the fo...
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