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Podcast: Beyond Currency
Episode: 12 January 2023 - Significant slowdown taking place in the housing market
Description: Data released this week has shown that productivity in the UK economy is the lowest in the entire G7. The wave of strikes that took place throughout the fourth quarter of 2022 and are ongoing will do nothing to improve that statistic.
One of the most important sectors of the private sector of the economy is housing. House building as well as sales of existing property makes up around 7% of GDP. The sector is also an accurate barometer of the health of the economy.
Over the past ten years or so, existing house prices have seen an unprecedented period of steady...