We have already had some big hits in a lot of areas- worse that the stats that have come through. I think the drop in rates combined with the usual Spring revival should see the market bottom out. It will probably increase slowly over the next few years before moving into normal growth (7-10%). Looking back from then you will see a relatively average growth period over the past 7 years.
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housing finance annual rate weakest in 13 yrs, page-68
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