Thursday, May 31, 2007

House prices still soaring

House prices still soaring

HOUSE prices are continuing to soar in defiance of interest rate rises, official figures revealed yesterday. The average home in England and Wales went up by more than £1,200 every month in the past year despite Bank of England attempts to dampen the market with hikes to the base rate.

Posted by david20040_0 @ 11:34 AM (4 views)
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5 thoughts on “House prices still soaring

  • dohousescrashinthewoods says:

    How interesting.
    Conusion and fog surrounds the figures at the turning point of the market.

    Anecdotally, my wife’s business (holistic therapy, therefore discretionary income) is still experiencing an unusually high cancellation rate and the pipeline is looking slimmer than usual.

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  • Make sure you switch on your pop-up blocker when you visit this site.
    Express seems a bit desperate for ad revenue – probably sales are down, tends to be the last paper on the stand in the newsagents – not surprising given the amount of intellect that went into composing this article.
    Don’t know how they reached this conclusion – heres a guess –
    Fixed rate mortgages are fixed indefinately.
    Rents are fixed to the price the Landlord paid for the house at the time and not subject to price competition as mortgages complete and or house price falls.
    Demand is solely based on population numbers and migration and totally not linked to need and affordability.
    Supply is based on no of houses built by the builder groups – not connected to modifications, shared accomodation and rennovation of desolate properties or transformation of commercial/industrial properties into residential.
    I’m a property estate salesperson expert, perception is reality and bull%^&* baffles brains.

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  • Their ‘experts’ include the vice chairman of the National Association of Estate Agents.

    Strangly, he didn’t predict a crash.

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  • As a Litigation Lawyer I am fairly busy – but I have yet to see some insoolvency related litigation I will say.

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