House price falls near bottom

House prices may only have around 8% left to fall, according to the notoriously gloomy think tank, the Centre for Economics and Business Research.

But it thinks it will be years before prices and transactions recover.

It predicts prices levelling out in the first quarter of next year, with mortgage approvals picking up to 50,000 a month later this summer.

It suggests that house prices will rise only slightly in 2011 and 2012, to reach 2005 levels.


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