Thursday, April 17, 2008
Blast from the past: 2000
A clutch of recent data suggests the UK property boom is cooling. One well-known economist believes that house buyers have now seen the last of rapid rises and falls in prices. Roger Bootle, of Deloitte & Touche, says house prices will now rise 4-5% annually, slightly higher than the general level of prices. "The end of the boom and bust in the housing market will help to bring greater stability in the economy as a whole. After all the ups and downs of the past 25 years that would be a major prize to have won," he added. Merrill Lynch's Michael Taylor said: "The lessons of the housing market boom and bust do appear to have been learnt ... double digit house price inflation does appear to be in the past."