UK House Prices Risk Drop of Up to 20%, Bloomberg Economics Says
- Latest numbers suggest ‘some form of correction is likely’
- Higher interest rates are pushing down housing values
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House prices in the UK may fall by as much as 20% as the Bank of England pushes up the costs of borrowing, according to a study by Bloomberg Economics.
That’s the gap between what buyers are currently paying for UK homes and the prices that could be justified by economic fundamentals, Jamie Rush, Ana Galvao and Niraj Shah said in the report.