Friday, Oct 13, 2006
Are you listening MPC?
Financial Times: FT index shows sharp rise in house prices
House-buyers in England and Wales have shrugged-off August’s rise in interest rates, according to the FT house price index. After a strong spring, house prices levelled off at the beginning of the summer, but have bounced back to rise by 0.5 per cent in September alone.
Posted by uncle chris @ 10:38 AM (175 views) Add Comment
5 Comments
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1. kpjcomp said...
Well, I think the cracks are starting to show were we are.
A 5 bedroom, old georgian house that was on the market for £320K, just sold at auction for £150K.
So the EA's & VI's might be fooling most people, but not me.
2. J. B. M. C. said...
I would hardly call the FT a VI. I think it's one of the more accurate surveys.
As for using your sample (i.e. one house) to base your predictions for a slowdown/HPC. Well, I'm afraid it's wishful thinkng on your part.
3. markd said...
Where are you kpjcomp?
4. kpjcomp said...
I'm in E.Yorkshire.
, but I'm sure they will be more yet to come.
The house was in West Cowick, I did'nt even know it had gone to Auction,.. I think I need to start going to property Auctions.. :)
It had recently sold some land for development, so the 320K to 150K maybe not a fair comparison,
but £150 for 5 bedroom Geogian house sounds amazing in the current climate.
The wife said, damm missed it.
I soppose with Auctions, you really find out what house prices are going for, rather than what greedy EA's put in there windows.
5. markd said...
I'm in the NW and prices have been entirely static here since mid-2004. Lots of property on the market and much of it sits around for months and in some cases over a year, particularly at the top end of the market. I suspect it is London again pushing up the figures.