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Real Estate Briefing - Categorized | Market Moves, Mortgage more

UK: House prices to fall 10pct

Posted on 24 June 2011

Leading analyst said prices could fall 10pc if the mortgage market does not recover. The latest housing data, which indicates a big drop in remortgage activity, and only sluggish growth in the number of mortgage approvals is likely to further depress prices in many parts of the country, according to leading economist.
The British Bankers’ Association (BBA) reported that mortgage approvals for house purchases only edged up to 30,509 in May after dipping to 29,747 in April from a still weak but seven-month high of 31,394 in March………………………………………..Full Article: Source


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