House prices will continue to fall by another 10 to 15 per cent and will not recover to their 2007 peak for at least a decade, Legal & General Investment Management warned yesterday. The crash in house prices will be 30 per cent down from their August 2007 peak. The recovery will be delayed as a result of the banksâ more cautious approach, lending less of a propertyâs value or lower multiples of a borrowerâs income.
