UK housing figures for December plummeted to lows not seen since Britain’s last recession in 1992 The Australian reported today.
49.1 per cent of real estate agents reported price falls for the month of December – compared with 40.6 per cent in November.
“The housing market is in the throes of a significant correction,” Richard McGuire from the Royal Bank of Canada noted.
“We don’t see a collapse, but there will be a pronounced downturn that will weigh on consumption”.
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