‘Bleak’ outlook for housing
The outlook for the UK housing market and high street trading are “bleak”, a panel of economists has warned.
They said conditions in the retail and housing markets are set to get a “whole lot worse” as the banking crisis starts to bite on the wider economy.
Ernst & Young’s ITEM club predicted house prices will fall by 10%, with the number of people moving home falling by 40% over the next two years.
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