House prices will fall another 4% before stabilising some time next year as the economy toughens, a new Reuters poll of 23 economists has shown.
Prices are expected to fall 1.5% this year as a whole.
House prices in London, where demand – particularly from rich foreigners – is outstripping supply, are expected to rise modestly next year.
US house prices, which have plunged by more than a third since the bubble burst four years ago, are also expected to fall further, before rising modestly in 2012, according to another recent Reuters poll.
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