Is The Housing Market on the Route to Recovery?
Just read a good blog on The Telegraph website from its economics editor, Edmund Conway (Sorry - the house price crash isn't over yet), reflecting much of our thought on the future of the housing market and house prices.The blog argues that house price crashes don't show consistent falls in prices - some months will shows rises before further falls. It says that unlike the equity market, the property market takes longer to recover, acting sluggishly and spending a long time at the bottom of its slump before gathering pace and slowly recovering with a property crash usually lasting 5 years.
It also mentions the current low turnover and activity in the housing market that could be giving a false impression of a recovery. Sure, some prices have risen, particularly in London, but from a very small number of sales.
The full article is on The Telegraph website.
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