Private wealth in property 'has not become overvalued'

Private wealth invested in property has not become overvalued, it was suggested, as one expert says the UK's house price crash merits a "bigger upswing".

Ed Stanfield of Property Economics was responding to HSBC's Global Investment Report, which claimed Britain was one of the most attractive markets for property acquisition due to valuations and supporting demand.

He suggests private wealth invested in property may have depreciated significantly as prices "saw one of the bigger corrections" during the corporate banking crisis.

However, the real estate expert argues the country's "bigger upswing" is a result of this sharp devaluation and does not indicate private wealth invested in property in the UK has been overvalued as well.

The corporate banking group's report suggested unlisted property in the US market is also at or near the bottom, but warned there are large variations from city to city.

Disparities were also seen in private and commercial prices across continental Europe.
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