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Europe could wipe 10pct off house prices, says builder Taylor Wimpey

Posted on 08 November 2011

British house prices could plunge 10pc in a “worst case” scenario arising from the eurozone debt crisis, the chief executive of housebuilder Taylor Wimpey warned. Pete Redfern, who heads up the UK’s second biggest home builder, said that a further escalation of the region’s debt problems threatens a UK banking crisis.
“The worse case scenario … is that a problem in Europe causes a UK banking problem,” he said. “While the underlying housing market is strong, if there was a withdrawal of banking finance obviously that would be negative.”……………………………………….Full Article: Source


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