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House price inflation is misleading says L&G

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  • 04/11/2002
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House price inflation is misleading, as it does not count the added value to homes caused by owners ...

House price inflation is misleading, as it does not count the added value to homes caused by owners making improvements, according to Legal & General (L&G).

The Moving Intentions survey from L&G found that of those borrowers who have bought their homes in the last two years most have spent an average of 5% of what was paid for the property on subsequent improvements. But this home improvement factor is not included in figures examining the growth in house prices. Stephen Smith, director, housing marketing, at L&G, said: ‘Comment on the continued rapid rise in house prices distracts attention from this improvement in housing quality.’


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