Official Land Registry figures show 15.1% fall in house prices |
Money |
guardian.co.uk
The fact is that 15% from the peak still gets us to 2006 prices. The low Bank of England interest rates are not stimulating greater mortgage availability. The bubble came through high loan to value ratios. If 100% mortgages are a thing of the past, and the limit is 50 / 60 / 70, then that is the downward driver of prices. They were out of synch with wage levels back in 2005. These are going to go down 30%.
Money |
guardian.co.uk
The fact is that 15% from the peak still gets us to 2006 prices. The low Bank of England interest rates are not stimulating greater mortgage availability. The bubble came through high loan to value ratios. If 100% mortgages are a thing of the past, and the limit is 50 / 60 / 70, then that is the downward driver of prices. They were out of synch with wage levels back in 2005. These are going to go down 30%.
Comments