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December 16, 2008

UK house prices ‘to fall by 30 percent’

By Spear's

The head of Barclays bank has predicted that economic gloom will deepen, with property prices falling by up to 30 percent.

The head of Barclays bank has predicted that economic gloom will deepen, with property prices falling by up to 30 percent.

John Varley’s warning comes ahead of the latest UK unemployment figures on Wednesday, where the number of jobless is expected to rise sharply while a new survey suggests household debt is on the increase.

He said: “Our view was that from the top to the bottom, you would see a fall of something like 25 to 30 percent.

For further details visit thewealthnet

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