According to figures released today by the UK Land Registry, the average house price rose by 0.8% in April to £163,083. Housing prices have gone up 3% in the southeast of England, while the cost of new homes has actually gone down 8% in the northeast of the country. Last week, one of the UK’s biggest lenders, the Nationwide, suggested that the housing market was merely reflecting the somewhat depressed state of the overall economy. The amount of mortgage lending remains generally lacklustre, hinting at the continuing levelling off of housing prices, and little likelihood of a revival in prices, in the coming months.
In related news, in its latest survey of all completed sales of KC & the Sunshine Band “It’s the Same Old Song” 12″ singles, Thrifty Vinyl announced a 1.01% price increase over the last 33 years, making an annual year on year rise of 0.03%. An irony no doubt lost on the creators of some fairly self-plageristic music, the funky flip side of the Sunshine Band’s Four Tops’ cover (itself a consciously ironic re-write of Holland-Dozier-Holland’s own “I Can’t Help Myself”) is “Let’s Go Party”, whose chorus could only sound more like “That’s The Way (I Like It)” if Harry Wayne Casey grunted “uh-huh” after the imperative advice of the title.
It is therefore considered a solid, though not spectacular investment.