Saturday, Mar 10, 2007
This is from a 'trusted' source =:¬(
Firstrung: House prices in parts of London show meteoric rise in last six months
"As a preview, the current month figures for London reveal that the average annual rate of growth over the past six months ranges from:
28.7% (City of London), to 2.2% (City of Westminster), elsewhere in the capital Kensington and Chelsea ( 18.5%), Camden (17.8%),
Richmond upon Thames (17.0%) have also performed strongly, while trends in Greenwich (4.3%), Barking and Dagenham (4.4%),
Newham (4.7%) and Enfield (4.8%) give a sense of the wide dispersion of price movements across London."
Posted by converted lurker @ 07:51 PM (144 views) Add Comment
11 Comments
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1. Steve said...
This is hardly surprising, as I keep saying the UK now expects house prices to just keep rising, and they will.
2. sirgoogle said...
The cheap money supply has to dry up first.
This has to be converted to property - and then wiped out when the bubble pops.
As you say we are probably some way from this.
3. Steve said...
Some way?
This situation is very unlikely to change, at least not within the next ten years.
And why exactly will the 'cheap money' dry up with the BoE very reluctant to increase rates.
4. Auntie said...
The Enfield figure is wrong. It's showing a drop of 7.3 in the last quarter, and a rise of only 3% YOY. Someone is telling porkies. BBC link, but land registry figures:
http://news.bbc.co.uk/1/shared/spl/hi/in_depth/uk_house_prices/html/ak.stm
5. auntie said...
The Enfield figure is wrong. It's showing a drop of 7.3 in the last quarter, and a rise of only 3% YOY. Someone is telling porkies. BBC link, but land registry figures:
http://news.bbc.co.uk/1/shared/spl/hi/in_depth/uk_house_prices/html/ak.stm
6. Davros said...
I don't think we are. We've got the average house price standing at 6 x salaries and mortgage lenders prepared to lend 5 x max, where's the money going to come from?
7. Davros said...
> This is hardly surprising, as I keep saying the UK now expects house prices to just keep rising, and they will.
This is such a lame statement. Are you saying prices will rise indefinately?? If so, by how much?
8. C'mon Correction said...
If these strong figures are to be believed, it masks the fact that house prices are falling in other parts of the UK. Here in South Wales there are many prices are still lower than late 2003.
So Steve - the 'UK' shouldn't expect house prices to keep rising - only some parts for a little longer. Only a fool believes a market will never fall.
9. Davros said...
> This situation is very unlikely to change, at least not within the next ten years.
OK Steve, so we've deduced you think house prices are going to rise over the next 10 years, how much?
Give us a percentage year on year..
10. inbreda said...
Steve said "And why exactly will the 'cheap money' dry up with the BoE very reluctant to increase rates."
Because interest rates are low due to the cash and carry trade from Japan, which is now ending because the BoJ are raising rates. It has less to do with what the BoE want than you think.
11. Chilli said...
I remember reading last week that house prices are still going up everywhere, but only marginally. London and the south east are still going crazy, but they will; with bankers getting paid monopoly money.