House prices tipped to fall a further 36 percent
The Daily Telegraph today reported that financial markets are pricing a further 36pc fall in the housing market over the next 2 years.
Anyone holding out for the housing market to recover quickly could be waiting a long while judging by the recent data. The paper reports that the “HBOS House Price Index show traders are betting on the housing market falling far more over the next two years than the majority of commentators have so far forecast. If the fall is realised it would amount to a halving of house prices from its peak last year to the bottom of the market. The derivatives market also suggests it will take 10 years for prices to return to their current levels.”
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