Friday, May 01, 2009
Hopes for housing market recovery dashed
Financial Times: Hopes for housing market recovery dashed
Hopes of a quick turnround in the UK housing market were dashed on Thursday after two new surveys underscored the continued decline in UK house prices. Both Nationwide and Land Registry showing 0.4% decrease in house prices during April.
Council of Mortgage Lenders comments: a) new money extended for loans was likely to be around £25bn less than repayments of principal in 2009, b) serious delays in mortgage repayments were likely to rise to more than 4.4 per cent of all home loans – up from 1.8 per cent at the end of last year – while repossessions would also rise sharply.
Posted by live4ever @ 08:36 AM (244 views) Add Comment
1 Comment
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1. need-a-crash said...
"The housing market is very sensitive to income and, as a result, conditions in the labour market are crucial to its performance"
Funny that Fionnuala Earley, I thought it was just about supply & demand and as demand was sooo great on this tiny island, prices would just go up and up forever and ever!!