Spring growth for prop­erty pre­dicted

Yorkshire Post - Property - - PROPERTY -

ERNST & Young is fore­cast­ing the UK econ­omy will re­bound in the sec­ond half of this year and grow by 1.2 per cent next year, boosted by a hous­ing mar­ket re­vival next spring.

In its Item Club au­tumn fore­cast, Ernst & Young say GDP will be down by 0.2 per cent at the end of the year fol­low­ing a re­turn to growth in the sec­ond half of the year.

The re­port ex­pects hous­ing transactions to bot­tom out this au­tumn be­fore re­cov­er­ing in spring, with house prices set to fol­low.

It adds that the move back to bal­anced growth in the medium-term will de­pend on a re­cov­ery in world mar­kets.

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