Friday, Dec 12, 2008
Hissssssssss
FT: FT index adds to house price gloom
House prices in England and Wales fell by 1.7 per cent in November, according to the FT House Price Index, registering the ninth consecutive monthly drop and wiping out all housing equity earned for the past two years. Meanwhile, prices in London, which earlier this year appeared to be relatively resilient, appear to be dropping more rapidly. In the three months through to October, prices fell at an annualised rate of 4.6 per cent.
Posted by who stole my pension? @ 04:58 PM (447 views) Add Comment
4 Comments
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1. paul said...
Oh no, what's The Times' David Smith going to rely on now for housing market statistics?
2. tick tock said...
'wiping out all housing equity earned for the past two years'.
Earned?
'Wiping out the the illusion of prosperity (conjured to veil the wretched face of an unsustainable and massive debt) over the past two years'
3. phdinbubbles said...
Gloom? I can recall feeling gloomy about house prices from 2001-2007. I think I registered with the FT some time ago but can't be bothered finding my login to get my full fill of being irate.
4. crash bandicoot said...
At least the FT index is pointing in the right direction now. It's also nice that their time machine measures lost equity rather than the Nationwide one which still measures house price gains.