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eric pebble

Ft: Recent House Price Rises May Not Be Sustained

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FT: Recent house price rises may not be sustained

Recent house price rises may not be sustained

Sharon Flaherty FTAdviser Published Wednesday , August 26, 2009

Recent rises in major house price indices could be about to fade as the price of property sold at auction has fallen back.

In June, around 30 per cent of properties sold at auction were 35 per cent below their level at September 2007 and in July that proportion rose to 44 per cent. :D [And that's just the tip of the iceberg...]

"It is not difficult to explain why the improvement in housing market conditions may only be temporary.

"Not only is the economic backdrop still weak, with the rise in unemployment showing little sign of coming to an end, but lending criteria remain a significant obstacle to buyers.

"We suspect that the recent recovery in house prices may not be sustained for too much longer."

No surprises there then........

http://www.ftadviser.com/FTAdviser/Mortgag...e-sustained.jsp

Edited by eric pebble

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