It’s been a strange couple of years. The UK housing market is no stranger to booms and busts, but the recent credit crunch and recent recession has been one of the most testing experiences for the UK property market.
After falling 20% from their 2007 peak, house prices unexpectedly rose in 2009. – According to the [...]
A review of 2009 and a look forward to what we might expect for UK economy in 2010
A look back at the past decade – The Economics of the Naughties
- A decade which brought us everything from NINJA mortgages to Quantitative easing and a new meaning of the phrase ‘economic stability’
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UK House Prices 2007-09
Source: BBC – UK House Prices
The Council of Mortgage Lenders CML have stated that given the uncertainty surrounding the housing market they will not be making any predictions for house prices at the moment. Certainly, forecasting UK House prices can be a tricky issue.
The depth of the crash in 2007-08 caught many [...]
In recent memory we have had two housing boom and busts. There are many similarities, but, also quite a few differences.
Differences in Housing Crashes:
1. Length of Time
The housing bust of 1990 lasted for nearly five years. By contrast, 2009 saw an unexpected rise in prices bringing an end to falling house prices after only two [...]
Artificial hips help the ageing and infirm, but government Hips for property owners seem to help no one except the hips purveyors. Estate agents think they are discouraging sellers as they have to pay up front for a Hip and this ‘discourages the market testers who may have sold if the deal was right’.
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Mortgage lending is slowly recovering, though it is still a long way down on the pre-bust levels. Total net lending, which strips out redemptions and repayments, now stands at £3.1 billion pounds 4.6 percent higher than last year. According to, The British Bankers Association, 42,238 loans were approved for people buying a property [...]
Much to many people’s surprise, we have seen a recovery in house prices this year. But, it is a recovery lacking conviction or any enthusiasm. A majority of economists still expect house prices to fall in 2010.
As we have often mentioned, the price rises have been mainly due to the shortage of supply on the [...]
The UK has experienced its longest post war recession, and the deepest since the Great Depression. Importantly, the UK recession has lasted longer than our main competitors. Whilst members of the Euro like Germany and France are experiencing positive growth, the UK remains stuck in recession.
The UK economy has suffered the most because of its [...]