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Entries from April 2008

UK homes overvalued by 30% says IMF

April 4th, 2008 · No Comments

Sam Fleming and Becky Barrow, Daily Mail
House prices are 30% too high in the UK and could soon collapse, the International Monetary Fund said yesterday.
After a decade-long housing boom, it fears Britain is one of the most vulnerable countries in the world to a devastating price collapse.
In a further blow, the Bank of England warned […]

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Tags: Housing News

UK in debt binge as mortgage tap closes

April 3rd, 2008 · No Comments

Homeowners have gone on a borrowing binge as cheap remortgaging deals dry up. Credit card debt went up by £350m and bank loans and overdrafts soared by £2bn in February.
It was the highest monthly increase since records began in 1987, according to today’s Bank of England figures.
City economists said the ‘bizarre’ jump in consumer borrowing […]

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Tags: Debt Crisis

Annual house price growth down again

April 1st, 2008 · No Comments

Annual house price growth fell for the sixth month in a row during February to its lowest level since 2006, figures showed today.
The average cost of a home in England and Wales rose by just 5.3% during the 12 months to the end of February, the slowest rate of gain since July 2006, according to […]

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Tags: Housing News