Tuesday, Jul 15, 2008
RICS June report
Bloomberg: House price drops close to most widespread since 1978
U.K. house-price declines in June stayed close to the most widespread since RICS started measuring the property market in 1978, pushing the country closer to a recession.
The number of residential property agents and surveyors saying prices fell exceeded those reporting gains by 88 percentage points, the London-based group said today. That compares with 92.2 percent the previous month, and 94.2 in April.
The number of transactions has reached an all-time record low.
Jeremy Leaf, a spokesman for Rics, said: "With demand so low, would-be buyers are negotiating from a position of strength."
Posted by little professor @ 12:44 AM (297 views) Add Comment
1 Comment
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1. Davros said...
I heard it was completely different to the 80s and 90s due to low unemployment and interest rates. Funny, it looks worse.