The UK Housing Slump in Charts Geoff Riley Tutor2u Economics December 2008
House prices now falling faster than in previous property recessions
The asking price trend tells us it is a buyers market
Confidence is melting away in construction
Jobs will go in building … can public sector investment projects limit the downside?
New housing starts have collapsed – supply responding to falling demand
And capital investment in new dwellings is falling sharply – a casualty of the recession
Base rates are down but mortgage interest rates have only dipped a little
Prices are more affordable for first time buyers – but mortgage availability is poor
Tracker rates have become more popular – I wonder why!
Nowhere is recession proof!
And fewer property owners are prepared to extract equity from their homes
Mortgage supply dries up
The property recession will amplify the broader economic downturn
But might just help our trade deficit!