Prices rise by most in 4 yrs

Landlords will be cheered to read that year on year prices in February were 9.4% higher than in the same month last year.  This is the biggest annual rise in nearly 4 years according to the data from Nationwide.

Despite the rises prices still remained 3% below their peak in 2007.
Increasing prices were put down to insufficient supply according to Nationwide's chief economist Robert Gardner.

Property Hawks View
Funny how the economists particularly one from a lender always trot out the 'we are not building enough houses' argument when prices go up.  Unfortunately, the UK has not been building enough houses for decades.  So surely when prices go down then the same argument means that paradoxically this shouldn't happen.  No, the inconvenient truth about the market is that prices go up when lenders are prepared to lend and buyers have the confidence to spend.  Something that the lenders and their economists feel a little bit embarrassed to admit.
 
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