Monday, Jul 26, 2010
Going Down
Guardian: Hometrack survey shows house prices fell 0.1% in July
There is further evidence that the housing recovery is running out of steam in a survey published today showing that prices dipped during July, the first decline in 15 months according to the property data specialist Hometrack.
Prices have fallen 0.1% this month as demand waned, supply rose and homes took longer to sell, the company said.
Hometrack's report also indicated that talk of impending public spending cuts is hurting confidence, with a 1.3% fall in new buyers registering with agents and homes now taking 8.7 weeks to sell – back to August 2009 levels.
Posted by gone-to-colombia @ 08:13 AM (1283 views) Add Comment
4 Comments
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1. brickormortis said...
All this at the height of summer - mm, I wonder!? Oh, but the world cup. Of course. Back to business in August and that ever-popular pre-Christmas stretch. Imagine if interest rates were a couple of points higher?
I reiterate - house prices in parts of Shropshire are down around 5% this year in some areas bt mostly about 3% and certainly would be at least 0.3% in July. There is a serious skewing of data coming from somewhere because these numbers don't reflect reality here!
2. Exiges said...
"There is a serious skewing of data coming from somewhere because these numbers don't reflect reality here!"
Yep, it's the upper end of the market where people have 50%+ deposits trading sideways.
3. sibley's love child said...
How reliable is the Hometrack data; is it held in regard?
In any event, i'll only be satisfied once the likes of the VI-laden Telegraph begin publishing bearish reports.
4. tpbeta said...
"We meet again. At the turn of the tide. The great storm is coming, but the tide has turned."