The British real estate crisis is not over yet
In spite of the fact that in December after three recessions successively the prices for the real estate in Britain have grown by 1,3 %, it is still early to tell about the end of crisis.
The Independent informs that today’s real estate crisis, which is the largest since 1995, can not be considered completed - even despite of the encouraging statistics of the last year’s end.
The total amount of bank loans for real estate purchase in November has made 80 thousands - 3,1 % less, than in October.
In December 2007 the average price of a private apartment house has made $393,4 thousands and was 5,2% higher, than in 2006. All experts agree in opinion that restriction of the bank credit by Bank of England had not time to tell upon the state of mortgage lending market, so they expect the further downtrend.
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