Reports of the revival of the UK housing market are extremely premature. While the phrase "green sh...
Reports of the revival of the UK housing market are extremely premature. While the phrase "green shoots of recovery" has been used to describe the combination of increased buyer interest, rising mortgage applications, higher lending commitments from the nationalised/partly-nationalised banks, as well as the rise in the Nationwide house price index and the Royal Institute of Chartered Surveyors sales figures during March, the support provided by these factors is gossamer thin. House prices have declined by 15.7% from March 2008 according to the Nationwide index, and by around 20% from th...
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