Fragile recovery in UK property market coming to an end with prices unlikely to rise in next five ye

[Nicholas Wallwork]

Residential property prices in the UK are expected to fall in the second half of 2010 and are unlikely to recover in the next five years with a high chance that the real cost of homes will be less in 2015 than they were in 2007, a series of new reports reveal.

The gloomiest outlook comes in a report published today (Tuesday July 13) by Price Waterhouse Cooper which says that trends in income growth, interest rates and housing supply mean that property owners cannot rely on the price of their homes rising in value.

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