Weekly House Price News Summary
What has happened in the house price news during the last week. Here are the highlights, a pretty mixed bag depending on who you believe.
Slight rise in house prices shifts power to buyers and first time Buyers
The week is reporting that modest gains in house prices has shifted the power in favour of buyers. They report that the demand to supply ratio is tight.
10 Month low on house price growth
The Guardian are reporting on the recent Nationwide report that stated property values rose 4.4% month on moth to November. Nationwide Building society are still reporting are still reporting that low interest rates and a lack of homes will result in house value increases in the short term.
The Express are reporting on a recent forecast by Knight Frank which suggests that all areas will continue to see house price growth except London in 2017. Top end property has reportedly fallen by more than seven per cent during 2016 in areas of West London according to the paper.
2017 could be the year of the “Great Housing Crash”
The Independent are reporting that with current conditions as they are, we could be in danger of a “Great Housing Crash”.
How Britain is defying Brexit Forecasts
AOL Money and Business Insider are both reporting on how Britain’s house pricing are defying earlier reports of a downturn and holding steady and growing in many areas. They do warn that the outlook for the UK remains uncertain. Within the Business Insider article they are reporting that Knight Frank have predicted house price growth until 2021 due to stable conditions.
Mark Carney issues warning over Household debt
BBC News are reporting on recent comments by Mark Carney, the governor of the Bank of England. Mr Carney has issued a warning on current levels of debt and credit card debt which is currently at record levels. Unsecured household debt is rising at fastest pace for 11 years. In the report, the Bank said house prices are now, on average, 4.5 times those of average incomes.