House prices are falling at the fastest rate since the Great Depression, with the number of owners in negative equity trebling in the last month alone.
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Housebuilding is set to fall below 100,000 over the next year with a rapid policy rethink necessary if 3m homes are to be built by 2020, says the RICS.
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The Chancellor Alistair Darling has made the decision to help banks and building societies secure more finance for new mortgages according to The Times.
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Construction sector activity slumped to a record low during July as conditions in the housing market continued to deteriorate, raising fears that Britain is edging closer to a recession.
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