Thursday, Apr 22, 2010
"sales are still less than half the number reported at the same stage of 2007"
BBC: House sales see spring bounce, figures show
House sales in the UK are continuing to revive after their post-Christmas slump, figures have suggested. HM Revenue & Customs said sales rose by 13,000 in March from February to 72,000, a jump of 22%. The level of sales was also 24% higher than in March last year, when the market was at its most depressed. However, sales are still less than half the number reported at the same stage of 2007, before the market collapsed under the impact of the credit crunch.
Posted by jack c @ 10:16 AM (889 views) Add Comment
4 Comments
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1. brickormortis said...
Just imagine the situation if the base rate was circa 5%? This would put the country into a donward spiral beyond comprehension and is exaclty why Number 10 know that this can not be allowed to happed. The best they coudl hope for is a 0.5% fall in house prices each month for two years wth a gradual introduction of multip0le homes tax, say at 1% per annum up to a maximum of say, 10% over the next ten years. If house prices do not moderate slowly adn urgently, we are ALL DOOMED!
2. Home_to_roast said...
Why didn't they use the following headline:
"House Sales are less than half of 2007"
Once again the BBC tows the party line.
3. cynicalsoothsayer said...
If inflation keeps rising they'll still keep interest rates at 0.5% then?
4. layers said...
Well the markets now appear to be factoring in a rate rise: "David Bloom at HSBC said the fact that the data came in the wake of Tuesday’s higher-than-expected reading of UK consumer price inflation raised the risk that the Bank of England would move to lift interest rates earlier than previously expected. " (from FT).
I suspect that rates have been kept so low to enable the politicians to offload their interests first, and I still believe that big changes will happen post election, regardless of who wins or if it's hung, due to the amount of debt the UK needs to service.