P Next Year so so 40 0Budget ler UK Trees end wwwww. hived IndtritMent. MAO GBP 30 20 10 0 — 2008 2000 2010 1 Souses Asses &int Doemeerd 'Mang LIP 1 2011 2012 2013 I EUR/GBP Holding Up Better on Back of Flow EUR/GBP (6m lag, Ms/ —RICS House Price Balance (rhs, inverted) 0.9 0.8 0.7 0.6