Economy

Treasury’s about-face on house price inflation

Pattrick Smellie
Wed, 16 Dec 2020

Pattrick Smellie
Wed, 16 Dec 2020
The Treasury has abandoned its belief, published just three months ago, that house prices will fall because of covid-19.In the half-year fiscal and economic update, the government’s lead economic agency says it now expects average house price inflation of 8.5 percent in the year to June 2021 rather than the 5.1 percent fall forecast for the same period in the September pre-election update.Back in September, the Treasury forecast “a period of weaker house prices over the year to June 2021, with prices falling 5.1 percent from their M...

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