Wednesday, Dec 20, 2006

House prices increase for 13th month in a row

Daily Express: House prices soar for 13th month running

City bonuses and a robust economy have helped keep demand for housing across the UK high, leading to price increases for the 13th consecutive month, the Daily Express report.

Posted by jellycaster @ 01:08 PM (566 views)
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10 Comments

1. paul said...

Haha. Daily Express Delivery!

"Surveyors show almost 50 per cent more surveyors reported a rise in prices during November rather than a fall"

ALMOST 50%? So then, actually, over 50% reported ... a fall.

Wednesday, December 20, 2006 02:22PM Report Comment
 

2. Mj said...

paul, you've misread it - 50% more reporting rise than fall means, say 70% report a rise, 20% report a fall, 10% say no change.

It's a weird way of reporting it, but it's how they been doing it for quite a while now...

Wednesday, December 20, 2006 04:03PM Report Comment
 

3. Nohpc said...

I don't seem to be able to post news blogs so I'll just write about it here.
The IMF praised the British economy and expected continued growth and steady inflation. It also praised the BoE for it's gentle tightening of monetory policy.
I don't see why the IMF would have a vested interest in saying this but I certainly find it reassuring that a more external source is saying this. Maybe Britain will be able to avoid a dreaded recession after all.

Wednesday, December 20, 2006 08:20PM Report Comment
 

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5. Nohpc said...

http://news.bbc.co.uk/2/hi/business/6197881.stm
is the link

Wednesday, December 20, 2006 08:29PM Report Comment
 

6. paul said...

Haha. I admit I didn't read the article very hard - it is the daily express after all.

Nohpc, an outside observer would happily praise a country for appearing to avert a recession - why not? In the same way, the Bush administration happily feted Ken Lay and Enron's continued success. Right up until the extent of the rot became known and they quickly started to distance themselves.

Don't think the IMF won't change their tone as soon as things start looking dodgy in the UK economy.

Or do you expect them to say something like "Wow - how did that happen? Only last year we were praising you and then this? Who'd have thought that a sixfold increase in housing costs could actually result in the market collapsing?"

Thursday, December 21, 2006 12:24AM Report Comment
 

7. Nohpc said...

I don't think the IMF would be giving praise if they thought there was a major risk. Why would they? They don't want to be made to look stupid if they are wrong otherwise people would stop listening to them. The point is that they obviously feel that that the BoE has managed to avoid a recession and collapse. It looks more and more likely that house prices will stagnate and correct themselves relative to inflation than collapse.
I think this would be the best outcome for the majority of brits although I'm sure the HPC bigraide will still moan and grumble as they feel that they shouldn't have to start at the bottom rung of the ladder like everybody else.

Thursday, December 21, 2006 01:01AM Report Comment
 

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