Government ministers believe UK house prices could fall by up to 10% this year it was revealed in a leaked Cabinet briefing note.
Caroline Flint, the housing minister, had her notes photographed as she entered Downing Street for a weekly cabinet briefing, revealing a downbeat attitude to house prices. The document says: “given present trends they will clearly show sizeable falls in prices later this year - at best down 5-10% year-on-year.” Ministers do not publicly issue housing market predictions, but recent publications by lenders and other industry bodies have predicted modest falls of around 5%. However, the briefing note appears to suggest the Government believes house prices could fall much further, which ...
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