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Interest rates went up and we should have had a HPC, however the BofE then reduced rates, giving a bit more fuel to the boom.

Also, during this boom, about a third of all mortgages were BTL.

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In the latest RICS report, there is this chart:

pchange.jpg

What caused the drops 2003 and 2005? What reversed them?

The drop in 2005 was caused by hitting peak debt in late 2004.

The recovery was the arrival of RMBS.

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2003 was Iraq mk2.

2005 was the first real wobble when the BoE raised rates before immediately cutting them again to 3.5% when it was obvious the market could not take it.

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2003 was Iraq mk2.

2005 was the first real wobble when the BoE raised rates before immediately cutting them again to 3.5% when it was obvious the market could not take it.

2004 re-inflation was Gordon 'tw*t **** *rsehole' Brown changing BoE targetting to CPI

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  • 245 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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