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Realistbear

Government Data: House Prices Down By Another 2.6%

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http://uk.biz.yahoo.com/11082009/325/house...ct-yy-june.html

Tuesday August 11, 09:51 AM

Reuters

House prices fall 10.7 pct yy in June

LONDON (Reuters) - House prices fell 10.7 percent on the year in June after a 12.7 percent annual decline in the month before, government data showed on Tuesday.

The Department of Communities and Local Government said the mix-adjusted average house price in Britain stood at 191,423 pounds in June.

In the three months to end-June house prices fell by 2.6 percent. That compares with a fall of 3.8 percent in the three months to March.

Fewer transactions at higher prices (due to lack of numbers on the market) may have slowed the crash down--temporaliy--but it will begin to pick up along with the unemployment trend.

This crash has a long way to the bottom.

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http://uk.biz.yahoo.com/11082009/325/house...ct-yy-june.html

Tuesday August 11, 09:51 AM

Reuters

House prices fall 10.7 pct yy in June

LONDON (Reuters) - House prices fell 10.7 percent on the year in June after a 12.7 percent annual decline in the month before, government data showed on Tuesday.

The Department of Communities and Local Government said the mix-adjusted average house price in Britain stood at 191,423 pounds in June.

In the three months to end-June house prices fell by 2.6 percent. That compares with a fall of 3.8 percent in the three months to March.

Fewer transactions at higher prices (due to lack of numbers on the market) may have slowed the crash down--temporaliy--but it will begin to pick up along with the unemployment trend.

This crash has a long way to the bottom.

Yes.

My estimated optimal buying date which has always been Oct-Nov 2009 at auction if something comes up is now looking way out. More like Oct-Nov 2011 after the election and the spending cuts kick in, assuming there isn't hyperinflation in the meantime.

Hmm, a good lesson for me - never ignore politics and VIs. If they'd let the banks fail as they should have, my date would have been correct, this autumn would have been the darkest, and recovery would have followed in 2010.

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