Wednesday, Oct 07, 2009

Fitch Ratings expects reversal of recent gains in UK house price indices

Mortgagestrategy: False dawn for UK housing market, says Fitch

Fitch Ratings says today that it expects the recent gains in the main UK house price indices to be a temporary respite. The agency continues to expect that UK house prices will fall approximately 30% overall from the October 2007 peak. Prices are currently 13% down from that peak, having dipped as low as 19% down in Q1 2009. Brian Coulton, Head of Global Economics and EMEA Sovereigns at Fitch Ratings, says: "The UK's average house price to income ratio remains significantly higher than the long term average. "A 30% fall from the peak of October 2007 would bring this ratio back in line with the long term average." In comparison, he says the house price declines in the recession of the early 1990s saw the average house price to income ratio fall below the long term trend

Posted by jack c @ 11:02 AM (883 views)
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2 Comments

1. will said...

Sense from Fitch amongst a sea of property bull.... this morning.

Wednesday, October 7, 2009 11:26AM Report Comment
 

2. Yoss said...

Avg Price Vs Avg Wage still above trend....And Avg wage is dropping (depending if you calculate avg wage from avg earnings OR the avg wage vs avg number of people of working age that are actually working)

Wednesday, October 7, 2009 07:11PM Report Comment
 

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