UK House Prices likely fell -13.0% in the year to March, the largest drop in at least 6 years, according to the Department for Communities and Local Government (DCLG). Rising unemployment and scarce credit access have kept buyers away from big-ticket purchases, sending property values lower. For those that already own a home, the decline amounts to a negative wealth effect, eroding the value of one’s assets to discourage spending and thereby keep a tight lid on economic growth. A survey of economists conducted by Bloomberg has estimated that the economy will shrink -3.7% this year.