Some good news at last.

House price revaluation revised

Published:  10 July, 2009

LONDON: Royal Bank of Scotland analysts revised their house price forecasts, predicting a peak to trough decline of 30%, down from the 35% forecast previously.

The bank brokers said that while factors such as rising unemployment and weak lending levels were likely to cause further falls, "the risk of a significant over-correction looks reduced due to low interest rates, unprecedented policy action and ongoing supply restriction".

Housebuilders' share prices, like those for Bovis Homes, rallied on the stock market yesterday following the news.

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