Magazine article The Spectator

Houses in a Time-Slip-We're Back in the Year When Curates Roamed the Land in Couples

Magazine article The Spectator

Houses in a Time-Slip-We're Back in the Year When Curates Roamed the Land in Couples

Article excerpt

We seem to be back in the Year of the High Church Curates. The landscape is all too familiar, and now the Halifax, our biggest mortgage lender, has clinched it. House-price inflation, the Halifax says, has shot upwards through 20 per cent, and is now at its highest since June 1989, when curates roamed the land in couples. In real terms (that is, allowing for other kinds of inflation) house prices are now higher than they were then. In that fateful year, the stock market had already cracked and the skies were clouding over, but house prices were racing ahead as if nothing could stop them. It was natural, so we were told. Everyone wanted a house and God had stopped making land to build on, so of course prices went up. This was hard, of course, on the first-time buyers, for how could they afford to get on to the ladder? …

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