Friday, October 30, 2009
House price rise slowing
Posted by David Smith at 11:30 AM
Category: Thoughts and responses

The most significant bit of economic news of the week was US third quarter GDP, up an annualised 3.5%. Most of the world, including I think Britain on any reasonable basis, has returned to growth.

More parochially, the Nationwide reported a 0.4% rise in house prices for October, after 0.9% in September. Supply and demand may be coming back into better balance, which is a healthy development. The rise was enough to produce the first annual rise in house prices, 2%, since March 2008, and to cut the fall from the peak to 13.1%. More here.