From the TUC

Property buyers not quite ‘all in it together’

26 Nov 2010, by in Society & Welfare

The latest figures from the Land Registry for England and Wales are out, and they show house sales increased by a rather paltry 1% from August 2009 to August 2010. Looking closer though, a significant chunk of that 1% increase (43.8% of it in fact) has been in the form of million pound plus properties, which despite these austere times seem to be going like hot cakes – a whopping 44% increase in Millionaire’s Row sales.

With the same report showing house prices up 3.4% overall (7.6% in London), first time buyers and low- and middle earners are being priced even further out of the property market than they already were. Such diverging experiences of the property market hardly bode well for us all being in it together.

2 Responses to Property buyers not quite ‘all in it together’

  1. Tweets that mention Property buyers not quite ‘all in it together’ | ToUChstone blog: A public policy blog from the TUC — Topsy.com
    Nov 26th 2010, 6:35 pm

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  2. The Squeeze
    Nov 30th 2010, 3:24 am

    We’re all in it together when it comes to bailing out people with big mortgages they can’t afford!

    The home-owner-ists will drag this out for 10 years or more. Most MP’s see the world though the prism of their property portfolios, but then the British public have probably got the government they deserve in that respect.