UK house price slowdown continues
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- Posteur Experimente
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- Enregistré le : 10 octobre 2007 11:48
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UK house price slowdown continues
The UK property market is still cooling, according to the latest government figures.
Prices fell by 0.8% in November, the Department of Communities and Local Government (DCLG) said, compared with a slight rise of 0.1% in October.
The annual rate of house price inflation was 9.5%, down from 11.3% the previous month.
The average figure for the three months to November, seen as a more reliable indicator, fell to 10.5% from 11.1%.
The DCLG calculated that the average price of a home in the UK was now à‚£218,330, down from à‚£220,195 in October.
The figures are based on sale completions and therefore lag behind other house price indexes.
Subdued market
The majority of property indexes are now showing a slowing market as a result of tighter credit conditions and affordability constraints.
Graph of Halifax and Nationwide house price indices
The latest surveys from the Halifax bank and the Nationwide building society showed the market continued to weaken in December, showing annual price growth of 5.2% and 4.8% respectively.
In common with most analysts, Halifax and Nationwide are both predicting that house prices will be flat in 2008.
A smaller number of commentators have said they believe prices will actually fall.
Capital Economics, which has long been forecasting the end of the UK property boom, expects prices to drop by 5% this year and by a further 8% in 2009, effectively wiping out the gains of the past 18 months.
The Bank of England's Monetary Policy Committee (MPC) voted unanimously to cut interest rates from 5.75% to 5.5% at its December meeting.
The MPC decided to hold rates earlier this month, but many economists expect it to cut again very soon, possibly as early as next month.
Regional breakdown
The DCLG statistics show that London recorded the biggest annual inflation rate in November at 14.1%, while the lowest was in the West Midlands at 4.3%.
London also had the highest average house price of any English region at à‚£336,095.
The average house price across England as a whole was à‚£225,957, compared with à‚£225,890 in Northern Ireland, à‚£168,158 in Wales and à‚£164,719 in Scotland.
Price inflation eased further for first-time buyers, with the rate dropping from 10.9% in October to 9.4% in November.
The average price paid by first-time buyers across the whole of the UK was à‚£165,230, down from à‚£166,764 the previous month.
95D aksed me about house prices in the UK, here're the latest figures. For quick calculation, 1 GBP ~ 1.3€ (4/3 )
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- Posteur Experimente
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- Enregistré le : 10 octobre 2007 11:48
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It would be good news if it happened. We probably gonna have another lowering of the interest rate, and probably another one next month, and then the market will pick up again. Have you seen the prices? And you haven't seen what they call a house!!! I come from the French country side, and for the price of an average house here, I buy 1/2 a village in Franche ComtéMaheu a écrit :wel, thank you JOe
that breakdown is a good new, isn't it ?
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- Enregistré le : 06 décembre 2007 12:50
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That's the reason why english are now buying wonderfull houses in France.JoeBAR a écrit : It would be good news if it happened. We probably gonna have another lowering of the interest rate, and probably another one next month, and then the market will pick up again. Have you seen the prices? And you haven't seen what they call a house!!! I come from the French country side, and for the price of an average house here, I buy 1/2 a village in Franche Comté
They are working in the UK and sleeping in France thanks to the TGV .
What I would be pleased to know is where are they paying their taxes, duties (impôts) in UK or France ?
Hve yu go the reply JoeBar ?
"Celui qui cherche une femme belle, bonne et intelligente, n'en cherche pas une mais trois !!
OW
OW
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I believe it's a choice! I work and live in the UK, I have a legal address in France, and I pay my tax in the UK, it makes life easier. However, I still pay my Social Security fees in France so I can benefit from the French health service without bothering with all sort of paperwork. There is a special status for French people working abroad (people who work in Switzerland and live in France use it a lot for example). I assume they pay income tax and national insurance in the UK too.
As for tax, likes VAT, they pay that wherever they buy taxed goods
They obviously pay local taxes in France too, like the council tax. I believe there're 2 different taxes to pay in France, there's only one here. (impots locaux/impots fonciers).
As for tax, likes VAT, they pay that wherever they buy taxed goods
They obviously pay local taxes in France too, like the council tax. I believe there're 2 different taxes to pay in France, there's only one here. (impots locaux/impots fonciers).
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- Posteur Experimente
- Messages : 178
- Enregistré le : 10 octobre 2007 11:48
- Localisation : United Kingdom
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- Posteur Experimente
- Messages : 195
- Enregistré le : 06 décembre 2007 12:50
- Localisation : Arles BdR
Hello JoeBar and Maheu.Maheu a écrit :okaye thank you Joe
I didn't know that word to breed
(I knew "to grow", when you want to speak about the city where you were born)
well have a good night
Joe you are a good teacher and thanls for you explanations regarding taxes in the UK. as well as VAT or IVA or TVA .
Joe is right to breed (élever) is used for animals and humans
and to grow is mainly used for agricultural matters and farmers but some time can also be used for humans when saying I grown in france.
Have both of you a nice day and see yu again sooon.
friendly regards
"Celui qui cherche une femme belle, bonne et intelligente, n'en cherche pas une mais trois !!
OW
OW