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House Prices To Fall, Says Bank Of England

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House prices to fall, says Bank of England
Myra Butterworth, 16:13, Thursday 21 October 2010
House prices will fall next year, the Bank of England has warned, as home loans become harder to secure amid government spending cuts.
The warning will add to growing fears about fragile house prices after values dropped by their ever biggest monthly amount in September.
The massive job cuts in the public sector and the squeeze on household budgets announced by the Chancellor this week are expected to make it even harder for buyers to secure finance.
Prices in towns, such as Oxford and Hastings, where there is a high proportion of public sector workers will be worse hit as the Governments cuts take hold, property experts said.


Merv: Er, hallo?

George: Hello Mervyn, George here. Better tell the prolls their house prices are coming down or you will be blamed for not warning them.

Merv: Er, hang on a moment I was just in the middle of being vigilant--allright, see what you mean will do, er.

George: Spiffing job.

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Yes - somehow the words lose their beauty when spoken by

Mervyn "we are experiencing deflation" King

Mind you - I suppose it could be argued that we are experiencing deflation of over -3%

Edited by sbn
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  • 420 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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