Saturday, September 10, 2011

“properties are so reasonably priced”

House prices down 2.2% year-on-year in August, says LSL

House prices increased by 0.3% in August compared to the previous month, but fell by 2.2% year-on-year, according to the latest LSL/Acadametrics House Price Index. The research also shows that housing transactions increased by 1.5% compared to July. Richard Sexton, business development director at e.surv, says: “The property market bounced back this summer, with consecutive months of price rises following falls between April and June. Prices in London rose most, thanks to all the cash buyers pushing up demand....He says that mortgage finance is very cheap at the moment and the fact that properties are so reasonably priced is also helping to allay lenders’ fears about borrowers’ ability to repay their loans.

Posted by jack c @ 10:58 AM (1682 views)
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6 thoughts on ““properties are so reasonably priced”

  • All seems very ssssslllloooowwww, i think this is going to be a long long long time coming, if at all…. 🙁

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  • It is pretty evident that a combination of the Arab spring, coupled to fears in the financial markets; have led to a significant number of the world’s richer people turning spare cash into London real estate.

    In many ways, this is a vote of confidence in the UK that is not being echoed in the USA, although it doesn’t help prospective British home-buyers..

    Although we tend to talk ourselves down, (most notably by the BBC..) Britain has a huge reputation globally for being the world’s honest broker – that in time of crisis, we will keep calm, carry on, and not play dirty.

    But let them buy up central London at exorbitant prices – it’s full of dull old second hand houses with virtually no gardens – much of it really ought to be bulldozed wholesale..

    Let us build ourselves some nice new family homes in leafy suburbs, and then commute in to overcharge our wealthy foreign investors for servicing their old and pokey little boltholes..

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  • Uncle Tom: “Let us build ourselves some nice new family homes in leafy suburbs, and then commute in to overcharge our wealthy foreign investors for servicing their old and pokey little boltholes.”

    I share your dream! One of way of getting money out of them there foreign investors would be to replaced income tax with LVT, of course.

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  • Hi uncle tom, do you not think our ‘huge reputation’ was slightly dented by the riots?

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  • Hi MW,

    The Greeks have just introduced property taxes !!

    I just posted the full article.

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