E&Y Property prices on the way up

mystic_trev

Or to use their words 'to recover in earnest'

The number of housing sales taking place in the UK will bottom out this autumn before recovering “in earnest” early next year, with house prices set to follow, the report predicts.

The forecast signals a turnaround in the property market, which has been in the doldrums for years. House prices tracked by lenders Halifax and Nationwide fell by 0.5pc and 0.4pc respectively in the three months to September, against the previous three months.

Over the past five years, they have fallen 19pc in total, Item calculates. However, it sees house prices regaining their 2007 peak over the next four years, with price inflation of up to 3pc next year, rising to around 5pc annual growth.

http://www.telegraph.co.uk/finance/economics/9607091/George-Osborne-boost-as-economy-begins-to-grow.html

Can't see it myself, I think we'll stay in the doldrums for another two or three years.

Loughton_Monkey

I think the government should introduce immediate legislation to ban forthwith any further use of crystal balls. There are far too many of them. THe newspapers, too, should learn a bit of self control and stop publishing all these loads of balls.

mystic_trev

Loughton_Monkey wrote: »

I think the government should introduce immediate legislation to ban forthwith any further use of crystal balls. There are far too many of them. THe newspapers, too, should learn a bit of self control and stop publishing all these loads of balls.

Quite!

Tommy Cooper's comedy centred on perfecting his inept conjuring show. Les Dawson attempted the same trick with a piano, and now our nation's economists are freshening up the concept with a very respectable stab at spoofing a clairvoyant act.

If this happens to be your type of comedy, prepare for a delicious treat this week, when the dismal scientists' equivalent of the Perrier Awards comes to town. First up will be that famed double act Ernst & Young, who perform at a venue called the Item Club.

There has hardly been a dry seat in the house there since the start of the financial crisis with the act's hilarious predictions of a return to health for the British economy, including this cracker from early 2011, when the pair reckoned that UK GDP growth would be "just" 2.3% last year (and 2.8% in 2012).

http://m.guardian.co.uk/business/2012/oct/14/gdp-forecast-laughs?cat=business&type=article