Sunday, December 9, 2007
More gloom from the City
British house prices are set to tumble by more than 10 per cent next year, according to City traders. This weekend they warned that residential property values might continue to suffer up until 2012. Invesco Perpetual's star fund managerNeil Woodford warned: "There is every possibility that the housing market... will deliver a shock to consumer confidence and spending. In this situation, it is likely we will flirt with recession."