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House Inflation Picks Up

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LONDON (ShareCast) - The latest official survey from the government on the health of the UK housing market has shown inflation picking up slightly.
The Office of the Deputy Prime Minister said UK house price inflation rose to 2.5% for the year in Advertisement
November from a nine-year low of 1.8% the month before.
The pick-up in inflation took the average house price to £186,431 in November compared with £185,398 the month before, adding credence to previous reports that the industry has achieved a soft landing.
There was also good news in the capital as the government said property inflation rate rose to 2.2%
in November, coming back from the 0.5% fall in October, the first decline in more than nine years.

I would have thought that any increase in the prices of houses was bad news given the poition of FTBs and the debt culture that exists in this country. Surely a competent government would wish to see House Prices normalize? Then again we do have a debt based government don't we? I bet Gordon is jumping up and down with glee as a HPC will finish his chances of his dream of becoming The Prime Minister.

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It's good news for the Government (everybody feels happy and inclined to re-elect Tony's cronies). It's good news for banks, EAs, surveyers, solicitors, builders and all those VIs. For everybody else it's bad news.

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  • 301 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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