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Housing market collapse as new data suggests property prices are falling
11
Jul

Housing market collapse as new data suggests property prices are falling

The UK Residential Market Survey from the Royal Institution of Chartered Surveyors is expected to show a decrease in the number of members reporting house price rises.

It comes after last weekend, it was reported is on the edge of a property price crash which could be as bad as the collapse in the 1990s according to experts who are also warning property value could plunge by 40 per cent.

Ahead of this week’s survey, Howard Archer, chief economic adviser to consultancy EY Item Club, told the Mail on Sunday: ‘It may well be that heightened uncertainty after the General Election weighed down on an already fragile housing market in June.’

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Courtesy The Sun

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