Sunday, October 10, 2010

Britain: Mortgage lenders alone cannot hold back double dip in UK housing market | Business | The Guardian

Mortgage lenders alone cannot hold back double dip in UK housing market | Business | The Guardian: "Rarely has a forecast come true so quickly. On Wednesday, the International Monetary Fund warned that there was a risk of a double dip in Britain's housing market. Within 24 hours, the Halifax reported that the cost of a home had dropped by 3.6% last month, the biggest one-month fall on record.

The scale of the drop took most – if not all – City analysts by surprise. Although recent months have seen a marked slowing in housing market activity, prices have edged only slightly lower. Today's snapshot of prices from the Halifax was out of line with most other recent surveys.

But, as the IMF noted in its World Economic Outlook, house prices in Britain still look expensive. Despite the stamp duty exemption for ho"
Make sure to read the full article by clicking on the title link above.

2 comments:

SellYourHouseUK said...

Just like the slow take supply of property in the UK, buyers and sellers remain cautious making the market fairly static. Good thing that stimulus programs such reduction in VAT, interest rates and banking bailout helped homeowners to be in-control in the recession period.

Darla said...

for us the stimulus for housing was the tax credit for first time borrowers. It was larger than normal and possibly more accesssible than the downpayment assistance we had before for 1st time buyers.

I will check your link...are you thinking the double dip will be short lived?

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