Sunday, October 14, 2012
Teh recovereh is here
PROPERTY PRICES ‘TO RISE BY 4.4%’
HOUSE prices will rise by 4.4 per cent next year, according to an influential City organisation. In a report out tomorrow, the Ernst & Young ITEM Club predicts that the property market will finally recover, after plunging 19 per cent in value since its peak in 2007.
Posted by little professor @ 12:13 PM (2829 views)
9 thoughts on “Teh recovereh is here”
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happy mondays says:
It’s a possibility but so is the chance they could fall 10% or we get invaded by little green men or world peace.. But i would assume with the amount of growing pressure for more affordable homes, a failed economy & lending being tightened, the chance is falls or stagnation..
grumpybob says:
I liked John Richardson’s comment on “8 out of 10 Cats” the other day: “The gap between the rich and the poor in the country is now so big you can see it from space.”
grumpybob says:
Oops, sorry, wrong article,
icarus says:
From its Summer Report: “ITEM expects CPI inflation to fall below 2% next year, bringing a long-awaited revival in household spending power. If the measures recently agreed in the Eurozone go ahead as planned, confidence should start to rebuild, gradually engendering a sorely needed recovery in UK exports and investment”.
hpwatcher says:
The main economic business in the UK is now housing.
mark wadsworth says:
Yippee and hooray, this might well happen, and the result of that will be to delay our eventual real recovery by a few years.
a saver says:
Had a look on Zoopla yesterday and according to their stats prices are down by only 6% from peak in my area. It’s just depressing….
stuartking says:
House prices won’t go up without wage inflation or stupid lending and there’s none of the former on the horizon and only bits of the latter in terms of govt schemes
ontheotherhand says:
It’s funny, but when I read the summary pages of key points from the E&Y Item Club report from the E&Y website, housing barely gets a mention. But when I read their press release, the paragraph headers are ‘Consumer spending props up a weak recovery’ , ‘Laying the foundations for a housing market revival.
Seems they know how to get the Express to bite…