Tuesday, September 9, 2014
Looks like house prices are about to go down
I suspect (and to be frank, hope) that house prices have finally peaked. Property already takes up too much of our time and money, which could be put to more productive use elsewhere. More buyers are pulling out of home purchases as banks tighten mortgage standards following the Mortgage Market Review, the recent regulatory overhaul, and borrowers fear the price rally is coming to an end. And a slew of recent data suggests house price growth is grinding to a halt, especially in London, where homeowners are taking their profits and be investing them in the Home Counties.