Junk food

WHY ARE house price rises always seen as good news? It’s hardly surprising given the fact they underpin the earnings of mortgage lenders, estate agents and journalists but it’s worth asking the question again after a week that’s seen both the Nationwide and the Halifax report a fresh surge in prices.

Prices rose 1 per cent in September alone, said the Halifax today.

‘Sound fundamentals, underpinned by a stronger economy and record high levels of employment, will continue to support a healthy housing market over the coming months.’

Healthy? Prices rising at four times the rate of inflation? That’s like saying a ten-year-old stuffing himself with burgers and chips and turkey twizzlers has a ‘healthy’ appetite.