18.04.2013 - Signs of life in the UK housing market
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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