Ex Societe Generale banker Will Davies says the prospect of the housing boom coming to an end could spell disaster for the government and the British economic recovery.
Davies’ comments after building society, Nationwide, suggest that the property market has slowed down significantly since the summer, with gross mortgage lending in the six months to September falling, in addition to the property prices that has started to decline. Change headline to “Property market faces crucial role in economic recovery in 2015 – aspect.co.uk boss.
“There is a total dearth of new houses, just a few higher priced houses.”
“Once the housing bubble pops, which it is expected to in the next year, the government’s confused vision of a brighter economy would prove to be even more bewildering.”
“There is no economic basis for this phenomenon.”
Will Davies is now a property entrepreneur and owner of leading property maintenance firm, aspect.co.uk