Housing boom on the wane?

Posted: 22 Jun 2007 10:49:25 GMT

It has been suggested that the current housing boom could be about to come to an end.

It has been suggested that the current housing boom could be about to come to an end.

Recent figures from HM Revenue and Customs (HMRC) have found that the current housing market is mirroring that of the 1980s, when a long period of sustained growth was followed by a crash in the market.

However, statistics from the Council of Mortgage Lenders (CML) this week have suggested that there remains strong growth in the property market, although there are signs that it is cooling.

While some experts have predicted a return to the house price crash of the early 1990s, most in the industry believe the market is in line for a much softer landing, as it appears that house buying will continue sufficiently to keep the market robust.

The recent flurry of housing stock coming onto the market is also believed to be something of a red herring for those awaiting a dramatic fall in prices, as it seems the arrival of new stock was largely driven by sellers looking to sell their properties before the arrival of Home Information Packs (Hips).


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