1 in 3 chance house prices will drop by 2010

Pricewaterhouse Coopers' (PWC) latest UK Economic Outlook assesses the UK’s current economic situation and prospects for the future and suggests given the UK economy’s most valuable asset by far is its housing stock and the uncertainty of house prices there is a considerable chance house prices could be lower than they are today by 2010. PWC's main scenario sees UK economic growth picking up from 1.9% in 2005 to around 2.5% in both 2006 and 2007. 2007 but it predicts consumer spending growth will remain somewhat below trend at an average of around 2.25% in both 2006 and 2007. The consul...