Friday, 13 December 2013

House price rises realise bubble fears, says economist

Economics professor says three-quarters of properties in the UK are overvalued, as Zoopla reports property price growth across the country. 


Gothic style Victorian terraced houses in south LondonThe average UK home has seen its value rise by £10,329 over the past year, or by £28.30 a day, according to figures from property search engine Zoopla.
This follows research from a leading economics professor that around three-quarters of properties in the UK are overvalued, with a 93% probability that London is already in the grip of a house price "bubble".
"The results raise the risk – although not the certainty – that house prices will fall," said professor James Mitchell, the head of economic modelling and forecasting at Warwick Business School. "But a bubble it appears to be, and we should all – householders, business people and policymakers alike – be alert to this risk."
More: The Guardian

1 comment:

  1. Hello my friend! I would like to tell you that this write-up is awesome, great written and include almost all important info. I recently came to know about http://uklocalmovers.co.uk/, their House Removals Wimbledon are very effective.
    House Removals Wimbledon

    ReplyDelete