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Is The Rebound In United Kingdom Real Estate Sustainable?

Property Wire
Is The Rebound In United Kingdom Real Estate Sustainable? - UK - Property Market - Analysis


Housing prices recently took a huge stride toward regaining ground lost after the steep fall-off from the 2007 peak in the United Kingdom real estate market. Analysts caution that this gain may be short-lived, however, as further job losses and mortgage defaults will inevitably take their toll. For more on this, see the following article from Property Wire.



A shortage of residential property for sale in the UK has led to a mini real estate boom with average prices rising by £10,000 since April, according to the latest prices to be published.

Prices rose by 1.6% in September with the average value of a home in the UK put at £163,533, the figures from the Halifax show.

But prices are still a long way behind the peak of the market in August 2007 when the average reached £199,612.

These figures follow last week’s index from Nationwide which put UK house prices at the same level as September 2008, and reported the average price of home was £161,816.
 
A lack of property on the market is driving the mini property boom but economists are warning the market could yet prove to be volatile going into the traditionally quieter winter months.
 

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