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UK house prices face 5pct fall

Posted on 06 September 2011

A leading economic forecaster makes mention of a 5% overall fall in UK house prices in 2012. The prediction is included in Ernst & Young ITEM Club’s outlook for the UK banking sector, which notes that the housing market has experienced a “renewed softening” over the past year, with prices having so far declined by around 1% from their 2010 peak, according to the Nationwide measure.
However, with demand fundamentals remaining weak, and the banks unlikely to ease lending criteria substantially in the near-term, the Club expects the value of the average home to continue falling next year, with a disturbing January to December decline of 5%……………………………………….Full Article: Source


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