While there has been a forecast of a there being almost a decade before house prices recover it shouldn’t be taken as a dark spot on the future for those seeking recovery sooner than later.  According to Knight Frank it could be that home prices in Wales will remain below pre-crisis level until 2021.  The peak in 2007 was £20,000 more at £154,696 than the current under £132,000 level.  It is presumed that London, which has experienced a much better housing market than other areas, will do better and will recover much faster.

Overall the nationwide housing market is expected to recover by 2019 with the average helped out by the strong London market.  There is a forecast for 2013 to see an upsurge of 2% in sales in the London area. 

Luxury housing sales will not be able to contribute as much to the London and surrounding areas house price averages as in the past.  New tax laws are expected to impact the sales of luxury priced homes.  Fewer high priced house sales due to tax laws are not expected however to decline drastically just to slow down a bit.

This housing recovery once it occurs fully will be the longest on record.  The coming year according to most experts will be a steady year for house prices and increases that will gain momentum and stick will not occur until likely 2015.  It may mean a while to recovery but homeowners will find that despite their lack of growing equity there are lenders that are ready to lend to them with attractive interest rates.  Also hopeful buyers will find the available houses on the market to have more affordable asking prices and that lenders are offering low affordable mortgages.