Hometrack Ltd reports that house prices in the UK have risen, after two years of reductions. In England and Wales, a .1% increase occurred in July, making the average house purchase price 155,000 pounds.
There has been no price increase in housing since 2007.
The report states that house prices peaked in September 2007 and have fallen 12% since that time.
This may be the first glimmer of light in the economic gloom.
The Nationwide Building Society reports that the UK economy reduced by .7% in April, May, and June, and unemployment is at the highest level since 1995.
The Bank of England has reduced its key rate to .5% and has provided the banking system with a deluge of cash with newly created funds.
Moneyfacts Plc reports that mortgage costs are still very high with a difference of 2.04% between the average two mortgage rates and the two year swap rate, which is the highest margin on record.
UK Businesses have been having a difficult time and increased housing prices may be an indication of an easing of the economic pressure.
Our UK Local Search Business Directory is assisting by providing qualified prospects to more than 1.6 million businesses who are listed via a good presence on Google and other search engines.
Monte Huebsch, CEO
Monday, August 31, 2009
Subscribe to:
Posts (Atom)
