UK will avoid a US-style property slump

The UK housing market will not suffer the same fate as in the United States, according to property developer Donald Trump, speaking in the Times.

Trump, who is looking to build a £1bn golf course in  Scotland, is quoted as saying that the UK will escape the same fate as the US because there has been far less over-building.

The comments come days after Goldman Sachs, the Wall Street broker, gave a warning that the UK may be on the brink of a three-year property slump.