"Fears that George Osborne, the chancellor, is stoking a new housing bubble through plans to boost mortgages may be exacerbated by figures showing house prices grew faster in May than at any time in the past six years.
Prices rose 0.4%, the most since May 2007, driven mainly by the market in London and the south-east – although the rest of the UK also averaged a marginal rise.
Data from Hometrack, a property analytics firm, shows prices grew by 0.9% in the capital last month, and by 0.5% across the south-east.
The number of people looking to buy grew almost 15% in London over the past six months but the number of available properties declined, creating the biggest gap between supply and demand for more than four years.
The average time a sale takes in London is now one month – a third of the time taken in the East Midlands."
Source: Property price rises stoke fears of a new housing bubble | Money | The Guardian
The end to overpriced real estate might not be as nigh as some fools thought years ago
Prices rose 0.4%, the most since May 2007, driven mainly by the market in London and the south-east – although the rest of the UK also averaged a marginal rise.
Data from Hometrack, a property analytics firm, shows prices grew by 0.9% in the capital last month, and by 0.5% across the south-east.
The number of people looking to buy grew almost 15% in London over the past six months but the number of available properties declined, creating the biggest gap between supply and demand for more than four years.
The average time a sale takes in London is now one month – a third of the time taken in the East Midlands."
Source: Property price rises stoke fears of a new housing bubble | Money | The Guardian
The end to overpriced real estate might not be as nigh as some fools thought years ago
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