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House prices will fall 2.7pct in the next year, says Office for Budget Responsibility

Posted on 01 December 2010

From Telegraph: House prices will fall 2.7pc in the coming financial year, the Office for Budget Responsibility (OBR) has forecast. The expected contraction in residential property prices represents a downwards revision of five percentage points on the OBR’s June forecast for 2.3pc growth in 2011/12.
Mortgage approvals and enquiries from new buyers now point to “muted transactions growth” in the near term, the OBR said, echoing the view from economists who see the slowdown in the housing market intensifying……………………………………….Full Article: Source


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