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Signs of life in the UK housing market

Posted on 18 April 2013

The UK housing market has been at the sharp end of the recession. Prices have fallen by 18% from the August 2007 peak and the number of transactions is running at half the levels seen before the financial crisis. Housebuilding has collapsed. In 2011/12 the number of new homes built fell to the lowest level since 1923.
Yet despite the decline in prices UK housing still looks relatively pricey on a long-term basis. The price of an average house in the UK, at £172,000, is now 4.5 times annual earnings…………………………………..Full Article: Source


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