Wednesday, Aug 13, 2008
No supprises there then!
BBC news: Flats 'lead' the housing slowdown
A 3.6% drop in the price of flats in the UK between May and June contributed to the price of the average home falling from £216,625 to £215,029.
Posted by ian hills @ 07:42 AM (409 views) Add Comment
2 Comments
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1. renting2 said...
Bristol and west have just recently announced that studio flats will no longer be accepted on any type of mortgage loan.
2. plato said...
rentings2
I translate this as meaning studio flats are greatly overvalued and if they can't be bought for cash, don't bother applying for a mortgage. This will have the effect of greatly reducing their market value. Following this a proportionate move downward on all types of property. Are B&West actually talking real value?