Fears are growing that the housing market could be facing a double-dip recession, as data released today shows house prices in March have risen by the smallest margin on record.
Prices are up a measly 0.1pc compared to February, the smallest margin ever recorded at this time of the year, when prices have never fallen month on month, according to property website Rightmove.
The near standstill in prices has fuelled concerns that a decline in the housing market could lead to a slowdown in the wider economy as unemployment, public sector spending cuts and potentially higher interest rates hit the consumer.
Source – Daily Telegraph
Justin Moy