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Evening Standard
Evening Standard
Business
Jonathan Prynn

London house prices to ‘fall 10 per cent by autumn’ as interest rate rises send mortgage payments soaring

London Samuel Tombs Rightmove The Bank of England

London home owners were today warned of a 10 per cent slump in property prices by the autumn as higher interest rates send mortgage payments soaring.

Leading City forecaster Samuel Tombs, chief UK economist at research firm Pantheon, said the capital is particularly vulnerable to a slump because London buyers have to take on such large loans to scramble on the property ladder.

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