UK Property Market Is Entering A 'Mini Ice Age' And Won't Recover For A Decade

england winter


Britain’s housing recovery may be even more disappointing than America’s, according to two reports published today (via Daily Mail).Pricewaterhouse Coopers warned that property was entering a mini ice age, with a “near 50% chance” that prices will be underwater in 2020.

The PWC report listed the “losers,” including people who bought “at or close to the top of the market” between 2006 and 2008, and people who want to move to London where prices continue to rise.

An equally glum statement was published Royal Institution of Chartered Surveyors: “Buyer interest in purchasing property remains relatively low across much of the UK and the volume of new stock coming to the market has slackened. With continued uncertainty over the jobs market and the economy, this subdued picture is set to continue,’ said RICS’s Alan Collett.

Now check out America’s worst housing markets for the next 5 years >

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