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The great mystery of UK house price increases

Each day seems to bring a little more positive news on UK house prices which on the whole appear to be rising in what is still a very depressed and difficult economic environment. Unemployment continues to push ahead, more people are in negative equity, more and more people are falling behind with their mortgage payments and ultimately the financial pressure is increasing in many parts of the UK population. So why are prices increasing?

While this is a subject we have covered on numerous occasions, and one which has attracted claims of reduced demand in the market place, it is also worthwhile pointing out that the wave of repossessions seen over the last few months has yet to hit the UK property market. The UK government introduced a number of initiatives to slow down repossessions and while they have worked in the short term, we will at some point see an increase in the number of repossessed properties on the market place.

Whether this introduction of a significant number of repossessed properties, possibly at rock bottom prices, to the marketplace will impact upon prices in the short to medium term remains to be seen but there is a feeling that the market is "unnaturally" strong and there may be more pain on the way before we see a "traditional" recovery.

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