House prices 'will take two or three years' to come back up

News Category: Industry News

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Although it is difficult to determine how house prices will move due to the current uncertainty in the market, it is likely that they will go back up in a couple of years.

That is according to Simon Zutshi, founder of the Property Investors Network (PIN), who asserted that it will take a while for property prices to come back up.

However, he disagreed with the claim made by various newspapers that we are on the cusp of seeing a crash in the housing market.

Mr Zutshi commented: "I think [house prices] will come down further and I think [after] two or three years they will have stabilised [and] start to come back again."

"I don't think they are going [to] crash down like most people are saying in the newspapers."

The Royal Institution of Chartered Surveyors (Rics) recently revealed that the number of chartered surveyors reporting house price falls rose in April.

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