UK housing market is not sustainable. My wife and I bough our house 2 years ago in the South West for 243k - it has now been value at 295k. A 50k hike in 2 years - we are not complaining but it is crazy.
UK recovery cuts home repossessions, but some see trouble brewing
Britain's economic recovery has helped cut home repossessions to their lowest level in at least five years, data showed on Thursday, but the rebound could come back to bite homeowners if it pushes interest rates up sooner than expected. Between June and September 7,200 homes were repossessed - 400 fewer than in the previous quarter and down 12 percent versus the same period in 2012, data from the Council of Mortgage Lenders (CML) showed. The repossession rate fell to 0.06 percent, the lowest since the CML began collecting data in 2008. "As the economic recovery gains momentum and unemployment declines, arrears and ... (full story)