House prices rising in Britain, UK didn't enter a double-dip recession last year.
2 replies, posted
[img]http://news.bbcimg.co.uk/media/images/67525000/jpg/_67525655_67525654.jpg[/img]
[i]The UK's construction sector may have fared better than first thought in early 2012[/i]
[quote]A revision by the Office for National Statistics (ONS) has cast doubt on the UK's double-dip recession last year.
Revised growth estimates now suggest the construction industry shrank in the first quarter of 2012, but by less than previously thought.
Analysts say the revision may be enough to mean the overall economy narrowly avoided falling into recession for a second time.
The ONS is due to give official confirmation of this in June.
The revised figures show the construction sector shrank by 5% in the first three months of 2012, less than the 5.4% contraction initially reported.[/quote]
[url]http://www.bbc.co.uk/news/business-22484394[/url]
[img]http://news.bbcimg.co.uk/media/images/66475000/jpg/_66475086_6o9c7sog.jpg[/img]
[i]The housing market remains very different in various parts of the UK[/i]
[quote]UK house prices rose by 1.1% in April compared with the previous month but activity in the market remained subdued, according to the Halifax.
The lender, part of Lloyds Banking Group, said that property values were 2% higher than a year earlier.
This meant the average UK home was valued at £166,094.
A dip in the number of mortgage approvals at the start of the year suggested that sales activity would not take off, the lender said.
"Weak income growth and continuing below-trend economic growth are likely to remain significant constraints on housing demand during the remainder of 2013," said Halifax's housing economist Martin Ellis.
Prices were 1.3% higher in the three months to the end of April than the previous three months, the survey found.
The annual change of 2% is higher than the figure recorded by the Nationwide Building Society. Its survey reported a 0.9% year-on-year increase and a 0.1% rise from March to April.
Both surveys are based on the lenders' own mortgage data.[/quote]
[url]http://www.bbc.co.uk/news/business-22446967[/url]
Looks like things are making some improvement now methinks.
It's still a horrendous situation if you looking to buy your first house.
People still can't afford deposits so people move to renting, meaning rent prices go up as well.
Hopefully that new 'firstbuy' scheme will work for people
[QUOTE=Arsonist;40614950]It's still a horrendous situation if you looking to buy your first house.
People still can't afford deposits so people move to renting, meaning rent prices go up as well.
Hopefully that new 'firstbuy' scheme will work for people[/QUOTE]
Well given that interest rates have been recently cut in many countries, plus British and German industrial growth is stronger than expected, and the DOW Jones hitting 15,000 for the first time, I can see the future looking a bit brighter.
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