Not just yet! House prices are apparently (20/10/2007) unaffected by recent financial concerns. The recent financial concerns (especially the Northern Rock debacle) have not affected the UK housing market in September and prices are still rising in the month. Different surveys from different sources indicate conflicting conclusions, though. For example, Halifax claim that the house prices are still on the increase whereas other sources are now more certain that the long awaited slowdown in house prices has already started this summer. Earlier this week, Barratt published up to a 10% fall in its property sales over a week following on from the Northern Rock difficulties. Many market experts are now forecasting that the Bank of England will start cutting the base rates before the end of the year in order to help the economy. This should certainly help existing borrowers.
Article by Peter: http://www.leedslettings.biz
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