Tag: britain
What Happens along the way when prices fall
In the UK the house prices is closely linked to economic performance. Studies (OECD) have shown that between 1971-2002 that a 1% change in values of British house stock led to a 0.7% change in consumer spending. In other parts of the world a strong economy creates higher house prices via rising and falling unemployment. [...]
Owning Property in London
Key property deals in the City of London are falling through as funding dries up due to the worldwide credit crunch.Sellers are struggling to complete deals as liquidity in the banking sector has virtually dried up. Values are also falling. German fund manager SEB has pulled out of buying ING Real Estate’s 88 Wood Street [...]
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