Two issues have made the headlines in today’s papers. One is the tragedy of EgyptAir Flight MS804. Without the black box, nothing is known what happened, and speculation while rescue operations are underway are a bit ghoulish.

Closer at home, the one issue across the papers is house prices, and how Brexit would make them fall. Well, it’s George Osborne who said so, and what could be better to scare the British voters into staying with Brussels than frighten them with a threat of falling house prices, because Mr Osborne and our government are of course ‘powerless’ to do anything about it, should we leave.

Daily Mail

Now George Osborne says Brexit would hit the value of your home by up to 18% within two years

Britain’s overheated housing market could stall or even go into reverse if the UK votes to leave the EU, George Osborne claimed last night. In his latest dramatic warning about the cost of Brexit, the Chancellor said there would be a ‘hit to the value of people’s homes’ of 10-18 per cent by 2018. The figure would equate to a loss of up to £52,500 on an average UK home costing £292,000. But the Treasury last night admitted that the forecast related to a fall in predicted growth of house prices, meaning any actual drop would be much lower, or even non-existent.

Express

Osborne blasted for ‘extraordinary’ claim Brexit could spark COLLAPSE in house prices

The Chancellor, during a visit to Japan, warned that the UK would suffer a “profound economic shock” on cutting ties with Brussels that would have an impact on the property market. His remarks came as the Government was engulfed in a fresh row about mass migration causing a housing shortage in the UK.  A report from the European Commission claimed Britain was building 70,000 too few homes a year to meet demand partly driven by the influx of newcomers from other EU nations.

Guardian

 House prices could take an 18% hit over the next two years and there will be an “economic shock” that will increase the cost of mortgages if the UK votes to leave the EU, George Osborne has warned. The chancellor said he would publish an official analysis next week saying house prices would be lower by at least 10% and up to 18% compared with what is expected if Britain remains in the EU. He made his claim as it emerged that property investors were inserting “Brexit clauses” in commercial deals to allow them to pull out.

 Independent

 Telegraph

House prices will fall by almost a fifth if Britain votes to leave the European Union, George Osborne has claimed. In his most significant intervention of the referendum campaign, Mr Osborne has said that a Treasury analysis has found that a Brexit could hit the value of homes across the country by as much as 18 per cent.

Express

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