UK Government finds cheaper option to keep housing bubble afloat

While the Australian Government spends millions of dollars in grants trying to keep the housing bubble afloat, the UK Government is pioneering a much cheaper alternative to keep confidence strong within their falling housing markets.

It has been found the UK Government has not been including repossessions in their official house price index on the grounds it does not reflect ‘full market value’ of the sale.

The latest Land Registry figures, published on Friday, showed a 10.1 per cent annual fall in prices across England and Wales, a considerably more benign figure than the indices from Halifax and Nationwide, which reveal prices falling by 15 per cent and 13.9 per cent respectively.

» Government house price data ‘flawed’ – The Guardian, 30th November 2008.