• From This is Money:

    House price figures from Rightmove showed average asking prices rising by 0.6% to reach £227,864 in July. This followed a fall in June.
    The Council of Mortgage Lenders has also released figures, showing gross mortgage lending increasing to £12.3bn in June: a rise of 17% on the previous month.
    Rightmove claims that hindsight shows the best time to buy a property would have been last winter when ‘prices were in freefall’ and transactions were at a 50-year low.
    It says the rise in asking prices seen this year was when prices undershot, a scenario rectified in spring, with average rises of about 1% per month seen since then.
    But, while asking prices may be rising, major house price reports based on transactions still show prices falling annually, with official figures from the Land Registry showing a 15.9% fall to May.
    The economic picture also remains deeply gloomy with the fastest rise in unemployment since the 1970s revealed last week.
    Mortgage lending is down heavily…

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    Posted by Jon @ 12:34 pm

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