Re: Re: Can the Uk defy: Ire, Spain, US, France, UAE, East Eur e



@angie wrote:

I think there are areas of the UK Claire where property is selling well as you suggest eg Surrey, other areas of London like Wimbledon, Bath etc.

Spread the net wider to other Counties even in Kent and even in prime spots only the sensibly priced are selling well. Even near T. Wells, there are houses which have been for sale for a long time, ( 1 for 4.5 years in a prime spot) and reductions are happening to shift them.

The UK market is still being distorted by the hundreds of billions given to the banks by HMG. The principle is to allow banks to make big profits and build up their capital ratios to allow them to start lending again. In practice they are paying bonus’s and propping up the housing market in the commuter belt…in Surrey and Tonbridge Wells for instance.

The money for this is coming from government borrowing and the 200billion that they printed through QE (which has to be repaid in real hard cash). The payback for all this hasn’t even started, so for now everything looks rosy in the UK.