Housing Market Bust Threatens Recession

Continued falls in house prices threaten to cause a wider recession. Falling house prices combined with the credit crunch and rising oil prices have proved a toxic mix for high street retailers. Evidence suggests that hard pressed consumers are reluctant to spend. This lower disposable income is particularly affecting higher value shops such as Marks and Spencers.

Is UK at risk from recession

Can we blame media for housing boom and Bust? Former BBC journalist Evan Davis suggests yes.

Regional House Prices
- Northern Ireland has seen the biggest drop in house prices following spectacular gains. Scotland is one of the few areas to avoid a drop in house prices, but, Scottish prices still remain below the UK average.

Average House prices in UK since 1980.

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