| U.K. residential-property values will fall 2 percent next year as government spending cuts sap the confidence of would-be buyers, Savills Plc (SVS) said.
The steepest declines will be Scotland and northeast England, where prices will plunge 4 percent and 2.5 percent respectively, the London-based broker said in a report today. At the other end of the scale, homes in the U.K. capital will lose 0.5 percent of their value, Savills forecast. The market will start to recover in 2013, the company said...............................................Full Article: Source
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