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Brown says house price inflation is moderating

In his pre-Budget statement today Chancellor Gordon Brown told the House of Commons that the expected moderation of house price inflation had started.

He says this will be good for the economy and predicted overall economic growth of between 3% and 3.5% next year in line with G7 countries.

He says mortgage rates have averaged 6.1% since 1997, almost half the 11.4% between 1979 and 1997.

Interest rates have averaged 5.3% since 1997, lower than in the 1960s.

Brown says there are 1.2 million more homeowners now than in 1997 and this will be boosted by the Barker review and the deputy Prime Minister’s five year housing strategy.


NAEA urges government to raise Stamp Duty

The National Association of Estate Agents is urging the government to re-set the levels of stamp duty as the chancellor makes his pre-budget report on December 2. The NAEA would like to see the current 60,000 threshold for stamp duty raised to help first-time buyers, as well as the other tiers. A more gradual scheme […]

NAB pushes into broker market

National Australia Bank Group is making a concerted push into the intermediary market through its Clydesdale Bank brand. It will primarily target higher net worth individuals in the south of England.

NAEA disappointed at chancellor’s report

The National Association of Estate Agents is disappointed that the chancellor did not take the opportunity to amend stamp duty levels in his pre-Budget report today.Peter Bolton King, chief executive of the NAEA, says: “House prices have risen by around 150% since the 60,000 threshold for stamp duty was set over a decade ago meaning […]

What the huge rebound in sterling means for the UK's inflation outlook

The world’s strongest currency in November was not the US dollar, despite the greenback rallying 3.5% against the euro, 8.7% against the Japanese yen and over 8.6% versus the Mexican peso and the Turkish lira up to yesterday’s close. The strongest currency last month was sterling, which had strengthened 2.2% versus even the mighty US […]


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