US leads the way on house prices, sales

I mentioned yesterday Australia’s housing affordability problem. News today says the UK also is either (i) better than the US, because its housing prices and sales are still expanding, or (ii) lagging the US, and we’ll all get ours soon enough. I reckon it’s the latter, sadly. Australians seem to agree – the consensus is that prices are rather high, and borrowing to meet those prices is rather worrying.

The UK, also:

The strength of the UK housing market was underlined by the fact that prices in the past three months rose 2.2% compared with the previous three month period, up from May’s comparable figure of 1.9%.

Although steadily increasing rates are slowing purchases and permits down. The results of rather a different survey were also released.

Steps must be taken to address a shortage of affordable homes in Wales, says the charity Shelter Cymru, who have released their report An Unnatural Disaster (actually there’s very little unnatural about it).

A “rampant housing market” and a lack of affordable and suitable housing were key factors in homelessness, a report by the charity has found.

It wants the assembly government to build 3,500 affordable homes a year by 2011 to clear the “backlog of need”.

New low-cost home ownership initiatives and funds to tackle homelessness prevention work were also urged in the inquiry, to be launched at Shelter Cymru’s annual conference in Swansea on Thursday.

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