Tuesday, Jul 15, 2008
DOWN, Down, down...
Mail: House prices falling at fastest rate since records began 50 years ago
''...House prices are falling at a rate not witnessed since records began in the 1950s, according to the latest report from banking giant Halifax. Its figures show the price of the average home in Britain has plunged by £17,000 since January....''
Posted by hpwatcher @ 10:15 AM (529 views) Add Comment
3 Comments
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1. icarus said...
We have an "influx of predatory buyers and savage price reductions" according to one agent but "no distressed sales" according to RICS.
It's difficult to get a mortgage, so lenders' price figures are based on a small number of sales. At the same time a lot of transactions are in cash, where predatory buyers call the tune. So what is the real price fall?
2. waitingfor hpc said...
what a shame ... so now the estate agents might have to EARN their money!
3. doomwatch said...
"David Sherwood, from Colchester, Essex, said: 'On the one hand, vendors are willing to accept a compromise and take an offer but opportunistic buyers are cynically dropping their offers at the point of exchange. Hardly cricket, is it?'"
So, vendors/EAs allowing gazumping was cricket then !!!!!!!!!!?