UK House Prices Rose 5.9% in 2009 but 2010 is Clouded in Fog...


Share

Well, Nationwide have released their figures for UK house prices in December and there is nothing very surprising at all. The rate of monthly growth slowed massively with a growth of just 0.1% between November and December. This brought the annual growth to 5.9% for 2009.

The accompanying report says that 2010 is clouded in fog. Raising the same points I have over just how many people there are left that have the deposit to get a decent mortgage. Whoever wrote the report should have been a politician; the last labour market report I read was slightly more positive than the last, just as it was slightly more positive than the one before that, but it still showed the unemployment rate rising. Nationwide however, have chosen to highlight the decline in claims for Jobseekers allowance.

Correctly, the report concedes that there will be significant public sector job losses in 2010, and there may not have been sufficient recovery in order that they can all be reemployed in the private sector, which is bound to apply renewed downward pressure to house prices.

But for some sort of miracle -- like the finance-fairy leaving 200 billion under Mervyn King's (Bank of England governor) pillow for 100% mortgages -- I am sticking to the forecast I made in a recent article: the price rise seen this year, 5.9% according to Nationwide, and about 8.5% according to Halifax, will be knocked back of next year, and then prices will flatten until at least the 4th quarter of 2011.

Like this post? Subscribe to our feed by RSS or Email, join our newsletter(s) or leave a comment using the form below.

By Liam Bailey - 2009-12-31 20:41:49

Buy articles button Page copy protected against web site content infringement by Copyscape

Bookmark and Share Bookmark and Share Add to Mixx!

Leave a Comment on this Post

Filed under: UK Property, Opinion Articles

Tagged: 2010 | Predictions | Forecasts | Liam Bailey | Nationwide | Indices | UK House Prices |

About the Author: Liam Bailey

Liam is the director of SEO copywriting services company Write About Property.

View all UK Property ArticlesSubscribe to UK property articles feedUK property articles by Email

View all ArticlesSubscribe to Write About Property articles feedAll Write About Property Articles by Email

 
Have Your Say - Post a Comment

captch image

Your Ad Here

Subscribe by Email

Enter your email address:

Delivered by FeedBurner

By Rss
feed icon

Sponsors



Socialise with Us

Facebook fan page

Links

Latest Posts

UK House Prices: Second Correction Looking More Likely

SEO Tips: When is a Link not a Link?

Villas in Icmeler Named as Among Most Popular Turkish Properties

UK House Prices Up or Down Depends on the Index

UK House Builders Risk Reputation to Sue Defaulters, What???

Why People are Buying Spanish Property Again

UK House Prices: What Will Spring Bring?

Turkish Tourism in 7.7% Year-on-Year Increase in January

EU Membership Looking Less Attractive for Turkey

UK House Prices Up Again in December Says Govt, But for How Long

Related Posts

UK House Prices: Second Correction Looking More Likely

UK House Prices Up or Down Depends on the Index

UK House Builders Risk Reputation to Sue Defaulters, What???

UK House Prices: What Will Spring Bring?

UK House Prices: Support Growing for Second Crash Scenario

UK House Prices may be Flat in 2010 but the Market will certainly be Rocky

New Legislation to Affect Landlords in the UK, but How Much...

A Long Hard Look at the Medium-Soft UK Housing Market

UK House Prices Still Rising Says Govt. But How Long Can it Continue?

Halifax Say Prices up 1% in 2009 + Jan Prize for Stating the Obvious

Sponsored Links