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Recovery May Take eight years

‘Research has found that some homeowners will have to wait up to eight years for the value of their properties to return to pre-recession levels.

The average property in Wales is unlikely to regain its nominal 2007 value until 2021, which in effect is 14 years of zero growth for the principality’s homeowners, according to the company’s forecasts.

Homeowners in Yorkshire and the northwest will fare little better, with typical properties not expected to return to pre-crisis prices before 2020. For the country as a whole it will take until 2019 for the average property to return to its 2007 value of £184,131. If that figure is adjusted for inflation, the year will be 2031.’

Source: The Sunday Times

Myfanwy Neville

Partner, Property and Construction

T +44 (0)20 8922 9376
E myfanwy.neville@bkl.co.uk

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