Saturday, January 12, 2013
'British house prices have posted only modest overall declines over the past five years (although rising rents and incomes have also helped bring things closer to fair value). But the British market may do rather better than still-stretched valuations suggest. For one thing, it does not suffer from the glut of empty homes that has created ghost towns in Ireland and Spain. And according to the Bank of Englandâ€™s latest credit-conditions survey lenders are more willing to make mortgage finance available than at any time since the financial crisis. The number of mortgage approvals for new purchases is at its highest for almost a year.' I'm not sure that the figures in this article match my personal experience. I would not now be able to buy the house that I bought in 2000.