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UK House Prices Situation at 4 5 2007: Fairly stable,
growth slowing in some areas
UK
House Prices Forecast: Continued growth in high-demand
areas
Brighton
Housing Costs Rising Fastest Per Square Metre
The
second annual House Price Per Square Metre Survey has
revealed that the cost per square metre of living space
has risen faster in Brighton than anywhere else in the
last 10 years.
The
survey calculates the cost per square metre of interior
space, providing an interesting measure of relative
housing costs in different locations. Although London
remains the most expensive place in absolute terms,
at £3,883 per square metre, Brighton's prices
have risen fastest, growing by a whopping 280% since
1996 to reach £2,559 per square metre.
Truro,
in Cornwall, recorded the second fastest rate of growth,
with London managing third place.
The
survey was conducted by Halifax Estate Agents, and looked
at data from 62 UK cities.
Average
Price Below £100k? Not In The UK
Every
town in the UK now has an average house price
over £100,000, according to the latest
house price data from mortgage lenders Halifax.
Lochgelly,
in Fife, Scotland was the last town to have an average
price below £100,000, but the average home in
the former mining town now costs £104,738.
Bank
of England Warns Property Boom Likely To End
In
a memo to the House of Commons Treasury Committee, the
Bank said that while the last decade has been characterised
by low inflation and low interest rates, this was unlikely
to continue.
The
Bank believes these "benign" conditions may
well be coming to an end, along with the corresponding
property boom. Economist Ed Stansfield, of Capital Economics,
agreed, saying that it was "not impossible to imagine"
house prices falling in some areas
next year, a statement echoed by several other economists.
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