Posted by: Steven Shaw | June 10, 2008

50% drops predicted for UK property

The Guardian newspaper writes “Traders predict house prices will fall by 50% in 4 years“. This includes 8% drop over the last few months and is in real terms (using RPI of 4% for adjustment). Traders predict approximately 10% drop in prices year on year for 2008, 2009, 2010 and 2011 with rock bottom occurring in 2011.

The IMF has been stating in it’s World Economic Outlook that Australian property prices are the world’s 4th most overvalued just behind the UK. This should be taken as a strong indicator for those of us here in Australia.

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