Tuesday, January 29, 2008
House prices will fall by up to a tenth this year, according to one of Britain’s most powerful fund managers.
House prices will fall by up to a tenth this year, according to one of Britain's most powerful fund managers. Neil Woodford, of Invesco, said they are simply too high and the average home will drop £18,500 by New Year's Eve, or £50 a day. The fall may be much worse in some parts of the country, warned the 47-year-old investment guru, with the biggest losers the owners of new-build flats aimed at buy-to-let investors which he fears are "almost unsellable."