Saturday, Dec 08, 2007
The trend is your friend
Firstrung: UK house prices show modest growth in November - FT Index
"House prices in England and Wales increased by just 0.5% in November, suggesting that last month's rise of 0.7% was a blip. On an annual basis, the rate of house price inflation has continued the downward path recorded since June, and is now 9.1%, the lowest level since January this year."The FT index is based on all property transactions in England and Wales, and our evidence of a softening market is very much in line with other indices despite the different reporting bases. The prices on which the FT index is based reflect transactions agreed some weeks ago. With continued weakening in consumer confidence and the further negative commentary on market prospects in 2008, we would expect this downward trend to continue.
Posted by converted lurker @ 11:30 AM (185 views) Add Comment
1 Comment
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1. Stanley_plank said...
I know that these property indexes lag the market, but what if the Halifax, Nationwide etc all go back to reporting small increases each month. Trying in effect to revitalise worried home buyers. This would make the last -1.1% and -0.8% monthly price falls look highly dubious. Especially this is what undoubtedly really made the BofE cut rates.
Basically are these figures the mortgage lenders give us a bit bent?