Thursday, March 29, 2012

It’s all looking rather promising

UK house prices fell by 1% in March

“The price of a typical UK home fell by 1% in March, pushing the year on year rate of house price growth into negative territory for the first time in six months. House prices were 0.9% lower than March 2011. “A slowdown was to be expected, given the imminent expiry of the stamp duty holiday, which had provided a temporary boost to house prices in early 2012 as buyers brought forward purchases that would otherwise have taken place later in the year. “However, in our view the challenging economic backdrop is likely to continue to act as a drag, with house prices moving sideways or modestly lower over the next twelve months.”

Posted by khards @ 07:41 AM (1518 views)
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3 thoughts on “It’s all looking rather promising

  • Just waiting for interest rates to rise now. We’ve seen a couple of the private mortgage rates go up slightly, but I think that this is the beginning of a trend that will probably last as long as the downward trend in rates from the peak in around 1991. We could therefore see 20 years of rates slowly drifting upwards, with a few ups and downs in-between of course.

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  • greenshootsandleaves says:

    In case you’re wondering what happened to the customary 0.1% fall, don’t worry! It was needed for the UK’s quarterly output but should be back very soon.

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  • good.

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