Britain’s ‘Jobs-Rich’ Recession May Limit Drop in Housing Market
- RICS says prices and new buyer inquiries fell in November
- Tight labor market means many people may remain in work
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Britain’s property appraisers expect a shallow and potentially short downturn in the housing market because many people are likely to keep their jobs during the recession.
The outlook from the Royal Institution of Chartered Surveyors follows three months of declines in house prices recorded by two of the nation’s biggest mortgage lenders.