• From This is Money:

    The average estimate suggests it will take five years for the market to recover. One group, Capital Economics, claimed it could take until 2019, while others said it would be any time between 2012 and 2016.

    ‘Prices need to fall a further 20% to 25% to get back their long-term trend.

    Others including Fitch and Savills are predicting a fall of between six and 8%.
    But the Bloomberg survey also showed the Centre for Economics and Business Research forecasting a 4% rise, while Citigroup say it could be anything from five to 10%.

    The UK’s third biggest mortgage lender said the value of new loans agreed for the six months to the end of September was down 47% to £70.5bn….

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    Posted by Jon @ 11:18 pm

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