Tuesday, Jul 14, 2009
Green shoots galore
RICS: UK house prices fall more slowly, outlook brightens-RICS
House prices in England and Wales fell at their slowest annual pace in almost two years last month while confidence in the price outlook turned positive for the first time since May 2007, a survey showed on Tuesday.
The Royal Institution of Chartered Surveyors' house price balance rose to -18.1 in the three months to June, its best reading since September 2007, from -43.8 in May. Analysts had forecast a much more modest improvement to -40.0.
New buyer inquiries increased for an eighth consecutive month and at their fastest rate since the survey began in 1999. The findings echo other recent indicators in suggesting record-low interest rates may be helping to stabilise the housing market.
Posted by little professor @ 12:17 AM (370 views) Add Comment
2 Comments
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1. fubar said...
It's no end of good news at the moment, as well as RICS reporting this good news the voices have also told me that my neighbours aren't secretly poisoning me after all. Not sure which delusion makes me happier. Aren't we still at a point in the process where all bets are off as to how things will go, or how bad it will get. Is it possible for interest rates to stay so low... Oh hang on, incoming message from the big giant head - Gordon and Alistair's ability to affect things is as illusory as my neighbours imaginary secret CO pipe to my bedroom.
2. Brickormortis said...
"Record low interest rates"? Has anyone checked out a fixed rate mortgage lately???? Besides, we have to keep taking a long term view of housing. What happens if interest rates rose to 8.5%? That is not actually very far away an dgiven the low base rate it woudln't take much to get there and when we are, against rising unemployment, how many could keep their head above water?