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Article: Is Melton housing market cooling?
- Article from:
- Melton Times & Citizen (Melton Mowbray, England)
- Article date:
- November 26, 2007
CopyrightCOPYRIGHT 2007 Johnston Publishing Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MONDAY 4.22PM
Credit crunch worries are causing people to tighten their belts but Melton house buyers are being told to ride out the storm.
With the ongoing financial problems caused by Northern Rock and sub prime mortgages, some people are worried about a collapse in the housing market.
But Melton independent financial advisor Kate Bullimore said: "The last housing market crash was in 1989 when interest rates were 17.4 per cent. They are currently at 5.75 per cent. It just shows how stable the economy is and how unlikely a crash is."
While the market in Melton has shown signs of cooling in recent months, it is difficult to find ...