The Governor of the Bank of England has warned that in the event of a no deal Brexit, property prices could plummet by a third.
Mark Carney told the Today programme on Friday that the Bank of England had run recent stress tests in the scenario of a no deal Brexit.
As well as house price falls, interest rates would rise to 4% and unemployment would go up to 4% in a full-scale recession.
Asked whether a no deal Brexit would be a disaster, Carney said it would be very undesirable.
His warning led to a fall in the value of the pound.