House prices will crash more than 20% over the next two years as a result of government spending cuts, tax rises and a surge in unemployment, according to a leading economic forecaster.
Capital Economics, the consultancy led by Roger Bootle, expects prices to fall 5% this year, and 10% in each of 2011 and 2012.
In total, the group predicts a collapse in house prices of 23% from the start of 2010- a deeper drop than the 19.3% during the recession.
Daily Telegraph 17/07/10 page 31
