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'mini-boom' Will Be Snuffed Out

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Observer article

Property website Hometrack will warn tomorrow that the so-called 'mini-boom' that has buoyed the market in London over the past few months will be snuffed out by higher mortgage costs.

Fionnuala Earley, group economist at Nationwide, said she believed the market could ride out the rate hike, but expects it to slow going into the new year. 'There are supportive factors: buy-to-let figures are strong, and immigration suggests there's going to be tenant demand, and there are property supply constraints,' she said. 'But if the MPC's raising rates, it's a warning shot, and people are going to think again about whether they should move and whether they should stretch themselves.'


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So what's the other 94% of GDP based on?

Credit card borrowing, construction work, government make-work programs and BTL, I think.

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  • 302 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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