Something is very wrong
Free markets generally respond to demand and rising prices with innovation and supply. Except when it comes to buidling houses it seems. Compare completions for housebuilding with prices over a similar period: http://www.theguardian.com/business/2014/nov/20/britain-net-worth-rises. This is where I found the DCLG report: http://www.insidehousing.co.uk/home/blogs/stuttering-starts/7006963.blog
What was that about a recovery?
Another prop for a stalling property market
China has cut interest rates for the first time in over two years in an effort to drive economic growth. The Peopleâs Bank of China cut the one-year deposit rate by 25 basis points and one-year benchmark lending rates by 40 basis points, representing a surprise turnaround in policy. Stalls in factory growth and the property market have contributed to the slowest rate of economic expansion that China has experienced in nearly a quarter of a century. The FTSE 100 is trading up 76 points (1.14%) at 6754, largely due to the move by China.
US pension fund buys London estate.
Bought house at market top, now living well beyond their means
Poor Milliband - Off on the wrong foot AGAIN!
Singer tells the Labour leader his âdisturbingâ plan to impose a levy on Â£2m-plus homes would hit âlittle granniesâ. She was supported by fellow guest, former ambassador Sir Christopher Meyer, who said: âYouâre going to screw me royally.â Following the spat, bookmaker Coral gave odds of 5-1 that Klass would become the next presenter of the BBCâs Newsnight, 20-1 she would become a Tory MP, and 33-1 that she would become a Labour one :-)
What will they do once rates are cut?!
What an incredibly sad day for UK politics
"Conservative candidate Kelly Tolhurst says homeowners fear a win for Ukip because it will tarnish the area" . "The danger is if you vote Ukip, the value of your house will go down," said Charles Walker, the Con MP for Broxbourne, who was campaigning in the town this afternoon". ( I don't care if you like UKIP or not - this isn't the way to encourage people to vote on the issues of this country). The article goes on to give house prices in the area. FFS!
Time to wake up
The charity's report says that by 2040, people who rent will be more than twice as likely to be living in poverty than homeowners. Its chief executive says leaders should build more affordable housing. In a statement, Julia Unwin said: "These stark findings are a wake-up call for political leaders. After decades of failing to build enough, those in power have a responsibility to act now to build more genuinely affordable homes. The charity predicts that by 2040, 2.5 million less people will be living in social housing. It says six million private renters - that's half of all private renters- will be living in poverty.
Rightmove said house prices fell 1.7 per cent month-on month compared with October as sellers compete to attract buyers during the quieter winter months, although the average sale figure for the UK was up 8.5 per cent on a year earlier at Â£267,127. Read more: http://www.thisismoney.co.uk/money/markets/article-2836703/Fresh-signs-cooling-housing-market-Rightmove-reports-1-7-fall-asking-prices-November-growth-seen-paused.html#ixzz3JJbBhMRs Follow us: @MailOnline on Twitter | DailyMail on Facebook