Thursday, Nov 29, 2007
Nationwide says the housing market is cooling rapidly
Times Online: House price fall is steepest in 12 years
The cost of an average home fell 0.8 per cent this month, according to a survey by Nationwide. It is the first decline since last February and the largest drop since June 1995. The average cost of a home is now £184,099, according to the bulding society.
Posted by peter @ 08:20 AM (224 views) Add Comment
1 Comment
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1. Icarus said...
Howard Archer throws in the old 'limited supply, so prices won't crash' argument. Somebody should tell him that it's supply relative to demand that counts. Howard, it's very much a buyers' market, which means that supply is very much outstripping demand, and it will continue to do so because demand is drying up in the wake of the credit crunch and expectations of lower house prices over the next few years.