From Businessweek.com: The British housing market’s recovery in the past year is waning as a lack of available mortgage credit keeps demand for homes “heavily constrained,” Lombard Street Research Ltd. said.

“We expect prices to stagnate, if not fall outright, in the second half of this year,” Jamie Dannhauser, a London-based economist at Lombard, wrote in a note today. “Effective housing demand remains heavily constrained by a lack of mortgage credit, particularly for first-time buyers.”…………………………………Full Article: Source

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