Housing market hit unevenly by credit crunch

Britain’s housing market will become a direct casualty of the credit crunch with the pain felt unevenly across the regions, credit information firm Experian says.

Experian predicted house prices over the next two years would record the lowest annual increases since the mid-1990s, while repossessions would reach 15-year highs.

The report comes two days after Bovis Homes, Britain’s fifth biggest housebuilder, warned that turmoil in financial markets was undermining confidence among house buyers.

Housing market hit unevenly by credit crunch | Personal Finance | Reuters.co.uk

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