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Scotsman: Mini Bubble May Be Forming - But Its Wobbling

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House price rises confound experts


HOUSE prices are showing surprise growth in property hotspots all over the UK. But how long will it last? Is this a mini-bubble that's about to burst, or will we be facing even higher prices later on?
Despite strong performances in parts of the UK, figures released last week by the Office of the Deputy Prime Minister appeared to run counter to findings elsewhere.
They showed that house prices in February fell by 1.2% - almost wiping out the 1.3% rise recorded in January. This compares with a 1.1% rise recorded by Nationwide and a 0.9% rise reported by Halifax, both in the previous week.
And housing market experts at Deutsche Bank expect prices to ease later in the year, partly because they are predicting an increase in the borrowing rate over the summer.
Indeed, figures from the Bank of England showing that
new mortgage approvals fell in February
could be an early sign that the market is already beginning to calm down ahead of any interest rate rises.
So, the message seems to be: if you're looking for the best price for your property, put it on the market now.
But the misery looks set to continue for first-time buyers, as no one seems to be expecting prices to fall.

Good advice for those who realise we are at the top of the market: sell NOW.

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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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