Monday, Jan 14, 2008
Price slide for Detached houses and Bungalows
Mail: Detached house prices plummet as property market enters slowdown
The price of detached homes has fallen by 2.4 per cent as the property market enters a slowdown. House prices fell by 0.8 per cent during November, while annual growth slowed to its lowest level for 12 months, Government figures showed today. Annual house price inflation dropped to 9.5 per cent during the month, its lowest level since November the previous year, according to the Department for Communities and Local Government. The monthly fall, which left the average home in the UK costing £218,330, was driven by a 2.4 per cent drop in the price of detached houses as well as a 0.9% fall in the cost of bungalows.
Posted by jack c @ 08:04 PM (742 views) Add Comment
7 Comments
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1. techieman said...
My parents have a detached bungalow!! Whoops!
2. Quizzical said...
Hi Chaps, new here
Interesting to see reported fall as this was the type of house of which there are purported shortages. However should correct sometime as apparently there is pent up demand for suchhouses
Does anyone have any idea how or who works out the projected housing needs which are supporting the well known mantra that the there is a structural shortgage of housing in the UK. I'd just like to go through the assumptions to see if there are any obvious fallacies. We could be on the edge of a huge mistake?
3. Baudot said...
Surely the publication of house price statistics is performed by the Land Registry. Why is taxpayers money beinng wasted on by the Department for Communities and Local Government compiling their own data ?.
.
Where did the Daily Wail get these numbers from ?.
4. justwatching said...
I'm guessing they don't have much of a mortgage though.
5. confused76 said...
Detached houses.,.. the more they rose the harder they will crash!!
BAAANGGGG!
6. it_is_going_with_a_bang said...
Sure there is pent up demand.
The key thing is 'affordable demand'.
Some of the worst places to live in the world today have pent up demand from its inhabitants. Doesn't mean they are going to spend 350k on detached house.
7. techieman said...
@jwatching - conincidentially their mortgage is Exactly the same as mine to the penny! - Eiree!! ;-). And who said renters and (true) owners have nothing in common!!