Monday, May 26, 2008
Your money's safer in the bank
Reuters: House prices fall annual 1.9 pct in May
Hometrack calculated house prices fell by an annual 1.9 percent this month, its biggest fall since November 2005
Posted by markj69 str05 @ 12:46 AM (666 views) Add Comment
5 Comments
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1. little professor said...
Snap
2. mken said...
Crackle
3. confused76 said...
More from the press
House prices fall for eighth month in a row
http://www.thisismoney.co.uk/mortgages/house-prices/article.html?in_article_id=442085&in_page_id=57
"Richard Donnell, Hometrack's director of research said: 'What we referred to last month as the 'buyer's strike' continues with a 6.7% drop in the number of buyers registering with agents over May.' "
SO DEMAND IS DOWN
.... AND SUPPLY IS UP
"Despite an 20% increase in property for sale in February, "
http://www.forbes.com/afxnewslimited/feeds/afx/2008/05/25/afx5046661.html
UK home prices decreased for an eighth consecutive month in May, with annual price growth falling deeper into negative territory as prospective buyers flee the market, housing consultancy Hometrack said.
It is also more difficult to sell a house on the market, with the proportion of the asking price being achieved slipping to 92.3 percent from 93 percent and the time taken for a sale rising to 9.8 weeks from 5.8 weeks a year ago.
Donnell noted that the outlook for house prices will depend upon how urgently homeowners need to sell their properties, typically are more pressing issues during times of rising unemployment and economic recession."
4. Orwell said...
Isn't that something like 3.9% this year already then? What about the prediction by the CMLR that they would only fall 7% then?
5. confused76 said...
http://www.guardian.co.uk/money/2008/may/26/houseprices.housingmarket
"Richard Donnell, Hometrack's director of research, said: "What we referred to last month as the buyers' strike continues with a 6.7% drop in the number of buyers registering with agents over May, following a 2.8% fall over the previous month."
The survey found that the supply of homes continued to rise, with the 20% jump in the number of homes on the market since February pushing down prices."
SUPPY AND DEMAND AT ITS BEST...
where are the small island, the immigrants and the divorces, the students and the singletons? ah hah ahhah ahah hahaahahahh ahahhaha