UK housing market falling faster than last recession, says Bellway

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UK housing market falling faster than last recession, says Bellway - Telegraph

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UK housing market falling faster than last recession, says Bellway - Telegraph

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06-06-2008, 11:01 AM

Damian George Damian George is offline

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UK housing market falling faster than last recession, says Bellway - Telegraph

UK housing market falling faster than last recession, says Bellway - Telegraph

The housing market is deteriorating at a much faster rate than it did during the recession of the early 1990s, Bellway said, as expectancy grew in the City that some UK house builders could be forced to raise capital to shore up their balance sheets. Bellway said that the spring season - traditionally a strong sales period for house builders - failed to take off and a restricted supply of mortgages was exacerbating the problem. It now expects volumes to fall by 10pc-15pc this year.

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Last edited by totallyproperty; 06-06-2008 at 11:05 AM. Reason: Source

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