Wednesday, Jan 16, 2008
House Prices Falling
Reuters: House prices fall at fastest rate since '92
LONDON (Reuters) - House prices fell in December at their fastest rate since the recession of the early 1990s, a survey showed on Wednesday, raising fears the country's once buoyant housing market is heading for a sharp downturn.
The Royal Institution of Chartered Surveyors' house price balance fell to -49.1 in December, its lowest since November 1992, from -40.6 in November.
The consensus was for a more modest drop to -45.0 and the fall marked the fifth consecutive month of easing prices.
Surveyor confidence in the sales and price outlook deteriorated markedly, the survey showed, with both measures reaching their lowest level since the questions were first included in the survey in 1998.
...
Posted by ukuser1 @ 10:45 PM (207 views) Add Comment
1 Comment
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. Reader said...
Another piece of misinterpretation. What the data mean is that more estate agents report falling rather than rising prices; it says nothing about the rate of the fall. So what this really means is that house price falls are now as widespread as in 1992.