Monday, September 15, 2014
Zoopla predicts repeat of 2008 17.5% crash if Scots go solo
Scottish Independence "Could cause house price crash"
Scottish independence could lead to another UK housing market crash that wipes £31,000 off the average house price in Scotland, causing as big a crash as the 17.5% fall seen during 2008, leading property website Zoopla has warned. Having mortgages issued in a foreign country, potentially in a foreign currency, with huge currency risks, could combine with reduced competition and higher costs combined with the lack of Bank of England lender of last resort facilities to create a perfect storm. Clearly, a housing and construction slowdown could cause havoc with tax receipts, damaging Salmond's ability to fund his promises.
Posted by libertas @ 10:23 PM (3618 views)
3 thoughts on “Zoopla predicts repeat of 2008 17.5% crash if Scots go solo”
Add a comment
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
novice pete says:
So if you want to buy a house at a realistic price vote Yes.
hpwatcher says:
YES!!!
libertas says:
On the contrary, Scottish house prices falling will be a result of a complete absence of lending, foreign currency risk to present mortgages, people fleeing and jobs disappearing. Prices will fall, housing will become less affordable, unless if you are a foreign investor. No good to the Scots.