House Prices to Fall a Further 55%?
Numis Securities, a City investment bank, has warned its clients that house prices could fall by a further 55%.The bank reckons that UK property prices are still between 17% and 39% overvalued, but warns that when there is a property crash, prices tend to fall under thewir fair value, hence its warning of a 55% fall in values.
Numis expects buy-to-let investors to start panic selling and warns that city centre flats and executive homes to suffer the largest price reductions.
Sobering stuff!!
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