The recent rise in UK house prices is a “false dawn”, an economic forecasting group has warned.
The Ernst & Young Item Club says property values will not return to their 2007 peak for at least another five years.
However the latest figures from mortgage lenders show a continued revival in lending to house buyers.
The number of loans granted for house purchase in July this year was 19% higher than in July 2008.
Read the full article “‘False dawn’ in UK housing market” in the BBC News (September 15, 2009).