Housing credit growth hasn't really been this low since WW2. Trend is still down for housing credit. People are still allergic to large amounts of debt, this will not change overnight or with some abnormally low interest rates. Unemployment appears to be rising.
The stockmarket is rising, meaning that at least historically, funds tend to follow the action away from property and into equities. There's not much action in the property market where I am.
The only real growth can come from immigration, but if unemployment is rising, the government will likely scale back intake.
There is almost always a blip up in prices in Jan, which I believe is purely a lack of stock for sale in this time resulting in a price spike.
If the RE industry were transparent, they would apply a seasonal adjustment to their data. But they are so sleazy, why would they want to do that. They love reporting that the market is off and running each Jan, It's like groundhog day. Property owners love to lap this good news up, and lots of people read the articles and watch the TV that report this rubbish and the media makes lots of money selling tissue adverts etc.
People love to report feel good stories, who cares if it's based on a lie. Never let the truth get in the way of a good story as they say.
