Monday, Oct 27, 2008
House price "downturn" gathers momentum in October
Independent: House prices fall to two-and-a-half-year low
Hometrack, which monitors the UK housing market, says that the fall in house prices increased faster in October, than in either August or September, adding that the supply of new homes coming to the market has also dried up.
Posted by matt_the_hat @ 07:14 AM (390 views) Add Comment
3 Comments
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1. mark wadsworth said...
I like the way they are using Fionnula's time machine.
Prices back to about 2002 levels is my forecast.
2. Fjcruiser said...
agreed,at just about 4x income or slightly under, which is the long term average and sustainable level to achieve stability.
3. str 2007 said...
Yep
I think I'd be reasonably happy with that Mark.
Hopefully they'll also be offering 2% mortgage rates fixed for 15 years by then aswell.
We can but dream
Funny really, when I first read your comment I though - 2002, we can do better than that surely but looking at the the Nationwide figures that is back to average houses being £110k in mid 2002. It shows how much they've gone up because 2002 isn't that long ago really.
(I believe the Nikkei hit a new low back 24 years today/yesterday).