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neon tetra

Hometrack August: -0.1% Mom -3.7% Yoy

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Data here: http://uk.reuters.com/article/2011/08/28/uk-britain-houses-hometrack-idUKTRE77R3DH20110828

...but that's boring.

MUCH more amusing is this page: http://www.hometrack.co.uk/commentary-and-analysis/market-snapshot/house_price_growth.cfm

(Bear in mind their tag line "The most sopisticated data available", then look at the scale on the graph... :o )

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I am starting to notice that all house price indices are distorted because of some central London properties selling for millions and hiding the true state of collapse in the bottom ladder of the Market for 1-2 bedrooms.

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Excuse me for being thick but I cannot find their August report on their site?

Strangely enough, the report usually gets released a few days after the headline figure. I guess they are trying to get the coverage that Haliwide do by being the first to put out a monthly headline number.

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Bloomberg's news coverage on this story. Makes a good headline.

http://www.bloomberg.com/news/2011-08-28/u-k-house-prices-fell-for-fourth-straight-month-in-august-hometrack-says.html

U.K. Housing Demand Weaken Further After August Price Drop, Hometrack Says

U.K. house prices fell for a fourth month in August and demand for homes may weaken further this year, property researcher Hometrack Ltd. said.

The average cost of a home slipped 0.1 percent from July and was down 3.7 percent from a year earlier, the London-based firm said today in an e-mailed report on its monthly survey of real-estate agents. In London, prices increased by 0.1 percent.

“Weak consumer sentiment, pressure on household incomes and the uncertain economic outlook are likely to see demand weaken further over the remainder of the year,” Richard Donnell, Hometrack’s director of research, said in a statement. “This is likely to accelerate the downward pressure on prices over the autumn.”

A stuttering economic recovery, rising joblessness and the deepest government spending cuts since World War II are weighing on Britain’s housing market and eroding consumer confidence. The Bank of England cut its growth forecast this month and left interest rates at a record low as it warned the euro-area crisis and global economic cooling threaten to hurt the U.K. economy.

Demand for homes fell by 1.2 percent in August, the Hometrack survey showed. The percentage of sales agreed rose 3.6 percent this month, compared with a 9.6 percent jump in July. Sellers accepted on average 92.5 percent of the asking price of a property, the least in six months.

Prime Minister David Cameron is facing pressure to do more to boost the economy after growth slowed to 0.2 percent in the second quarter, less than half the pace of the previous three months. Unemployment claims increased the most in more than two years in July.

A report by Nationwide Building Society showed last week that consumer confidence fell to a three-month low in July as Britons grew more pessimistic about the outlook for the economy.

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  • 333 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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