House prices: expect the worst

In August 2005, Fred Harrison told MoneyWeek that the UK property boom would last another three years, before ending in 2008. Here he updates his forecast.

In August 2005, Fred Harrison told MoneyWeek that the UK property boom would last for another three years, before ending in 2008. Here he updates his forecast

Recent news on the housing market has been nothing but negative (see the graph below). The International Monetary Fund says UK house prices are 40% overvalued. The Nationwide building society has cut its forecast for 2008 house price growth to 0% a fall in real terms.

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