Submitted on Monday 10th March 2008
Property prices rise to 4 trillion
Halifax has reported that property prices have risen threefold to £4 trillion in the last decade.
Secured debt has reportedly tripled to £1.2m in the same period.
Such statistics are increasingly becoming topical and are not always consistent with each other. They cause newspaper headlines about state of nation and prompt discussions about winners and losers
There is an interesting divergence of opinion between optimists and pessimists. Optimists basically say fill yer boots all the time because property will always be good long term whereas pessimists say we are in for a big correction. The optimists certainly have history on their side but filling your boots in a market that may correct means that any overzealous buyers may need to be prepared to cashflow out a few flat years while they wait for the markets to peak again
