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Published byVivian Wells Modified over 9 years ago
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The UK Housing Slump in Charts Geoff Riley Tutor2u Economics December 2008
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House prices now falling faster than in previous property recessions
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The asking price trend tells us it is a buyers market
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Confidence is melting away in construction
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Jobs will go in building … can public sector investment projects limit the downside?
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New housing starts have collapsed – supply responding to falling demand
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And capital investment in new dwellings is falling sharply – a casualty of the recession
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Base rates are down but mortgage interest rates have only dipped a little
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Prices are more affordable for first time buyers – but mortgage availability is poor
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Tracker rates have become more popular – I wonder why!
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Nowhere is recession proof!
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And fewer property owners are prepared to extract equity from their homes
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Mortgage supply dries up
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The property recession will amplify the broader economic downturn
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But might just help our trade deficit!
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