According to the Independent, the price of UK houses will fall by 9%. Read the full article:
Property prices to fall 9%, bank warns - Property, House & Home - The Independent: "Halifax Bank of Scotland today warned that property prices are likely to fall by 9 per cent this year - a near doubling of previous expectations as the bank predicts deepening gloom for the housing market.
The UK's biggest mortgage lender said in an update on trading ahead of its £4 billion cash call to investors that the forecast for the property sector will lead to higher bad debt charges, with mortgage arrears levels already rising.
It added that write-downs amid the credit crunch had risen by £58 million to £1.03 billion since the end of March."
sabato 21 giugno 2008
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