Speaking at the Social Housing Conference, Simon Dow,
interim chair of the regulator, said stress-testing and preparing for the
worst-case scenarios was vital for housing associations. Mr Dow referred to the
Bank of England’s scenarios, picking out specifically its predictions for what
would happen to the economy in the case of a “disorderly Brexit”. According to
the BoE, a “disorderly Brexit” would see GDP fall by 8%, unemployment would
almost double to 7.5%, inflation would soar to 6.5% and house prices could fall
by up to 30%. The Bank said it would then have to raise interest rates to 5.5%
in order to compensate for the shock to the economy. Read more on Inside
Housing.
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