Thursday, Oct 30, 2008
Nationwide: -1.4% Mom, -14.6% YoY
BBC: Low sales drive house prices down
UK house prices continued falling in October and are now nearly 15% lower than a year ago, says the Nationwide.
The building society's latest survey says property prices fell by 1.4% this past month, pushing the annual rate of fall up from 12.4% to 14.6%.
This means the price of an average house was £158,872 - £30,000 less than a year ago.
Posted by little professor @ 12:19 AM (1075 views) Add Comment
6 Comments
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1. bystander said...
interesting that this was posted just after midnight and yet the BBC this morning (5.30am Business report) were talking about expectations of lower house prices from nationwide when the figures were released, no mention of the figures already being released. BBC and HMG preparing the spin to make this not look too bad?????
2. sosoon said...
*** STRICTLY EMBARGOED UNTIL 7.00AM THURSDAY 30TH OCTOBER 2008.
Yet another reflection on the professionalism of this company. Trust
3. little professor said...
Good spot, bystander
4. karlos said...
The figures are posted around midnight, but the data is embargoed until 7am. So between these times they have to talk about "expectations are that there will be...."
Don't quite know why it's done this way....
5. Cheekie Charlie said...
But low volume sales were supposed to maintain prices!
6. montesquieu said...
It's the rules of the game, they have to abide by them or they get cut off from future press releases (in theory anyway).
The 7am embargo is so they can stump up someone for interview and keep control/maximise ownership of the information to some extent (or at least maximise their exposure). If they put someone up to discuss it at midnight the night before it would already be old news by 7am.
Nothing at all unusual in any of this.