A future house price crash could be the worst market correction ever seen in the UK, according to M&...
A future house price crash could be the worst market correction ever seen in the UK, according to M&G's Richard Woolnough. The group's bond manager believes that as house prices soared so high ahead of the downturn, there is a chance they could decline to record lows, worse than seen in previous crashes. "History suggests that when the UK housing market crashes, it tends to fall about 25%-30% from peak to trough in real terms, but given that UK house prices rose about 270% from 1995 to end of 2007, there is a risk that this crash could be worse," he added. Woolnough also believes that...
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