Price Waterhouse Cooper

“forecast further falls in house prices between 2009 and 2010”

“before they flatten out in 2011”

“house prices may not return to last year’s levels until 2020”

“UK GDP will fall by just over 4 per cent in 2009, but should start to pick up later this year and into next year, with average growth of around 0.5 per cent in 2010”