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House Prices Face Hard Year After 1.6 Per Cent Fall In 2010

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"House prices fell by
1.6 per cent in 2010
and will tumble further next year, driven by an ongoing weakness in demand, a mortgage famine and fear of unemployment, a survey by Hometrack will say today."
"The average cost of a home fell 0.4 percent from last month, and prices will drop a further
2 percent in 2011
, the London-based property researcher said in an e-mailed report today. A separate release showed the majority of U.K. retailers predict a decline in sales next year."

OOoo-fancy, such a huge drop in just one year. All that terrible news about job losses, worst ever mortgage business, collapsing EU and houses are down a couple of thousand pounds?

Where do they get this drivel? I am tracking a dozen or so houses within a 3 mi radius of my PC near Brighton and all see are reductions at around £10-£15,000. 1.6%? Not enough to even measure over an entire year as the margin for error is 3.5% + or -.

And as for their forecast drop of 2% in 2011--not even measurable given margin for error.

Edited by Realistbear

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  • 285 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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