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UK property prices need to drop another 20pct to be affordable

Posted on 02 November 2010

From Propertywire.com: Residential real estate prices in the UK need to fall by another 20% to make properties affordable, economists claim. Property economist Capital Economics said only a fall of a fifth to bring the average price down by around £33,000 to £130,000 will bring properties within reach of buyers.

It is also says that the lack of mortgage credit and the weak economic outlook also point to prices falling through the rest of this year and 2011 and it is predicting a fall of 10% in 2011…………………………………….Full Article: Source


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