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dryrot

Prices Of Uk Homes For Sale See Biggest Fall In Nine Months In August (Reuters)

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Hi

Got this via Hargreaves Lansdowne,,.

http://www.hl.co.uk/news/2016/8/15/prices-of-uk-homes-for-sale-see-biggest-fall-in-nine-months-in-august?utm_source=Silverpop&utm_medium=email&utm_campaign=EONRM_Newsroom%20weekly_with%20added%20feedback%20message%20(17)&utm_content=www_hl_co_uk_news_2016_8_15_pr&theSource=EONRM&Override=1&sp_mid=52102334&sp_rid=cGV0ZXJob21lQHBldGVybHVjZXkuY29tS0

Not mentioned in hpc yet?

"The price of homes for sale in England and Wales fell in August, posting the biggest drop since November, as the summer lull added to uncertainty surrounding Britain's decision to leave the European Union, property website Rightmove said on Monday. Asking prices fell by a monthly 1.2 percent, according to a survey by Rightmove that covers properties put on sale between July 10 and Aug. 6, after shedding 0.9 percent in July. The biggest drop was in London and the South East, with asking prices falling by 2.6 percent and 2.0 percent respectively."

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It's Reuters reporting of Rightmove unfortunately. So nothing new.?

Wish it was new data.

Edited by Blod

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Is this figure seasoned, there are two months when asking prices fall off a cliff in November in the run up to Christmas and in August during the summer holidays. Doesn't feel any different to any other August tbh, except the stock levels are tiny and the sold to stock ratio a little higher than normal.

Really still shaking my head at the MPC decisions to cut...retail sales on overdrive, annual house prices rises close to double digits, unemployment at decade lows, FTSE 100 close to all time high...you really couldn't make it up. Any excuse by the Establishment to boost asset prices.

Edited by crashmonitor

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Is this figure seasoned, there are two months when asking prices fall off a cliff in November in the run up to Christmas and in August during the summer holidays. Doesn't feel any different to any other August tbh, except the stock levels are tiny and the sold to stock ratio a little higher than normal.

Really still shaking my head at the MPC decisions to cut...retail sales on overdrive, annual house prices rises close to double digits, unemployment at decade lows, FTSE 100 close to all time high...you really couldn't make it up. Any excuse by the Establishment to boost asset prices.

They didn't even need an excuse.

They just made stuff up.

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They will more than likely publish next month's rate decision rather than face a barrage of embarrassing questions. I mean they failed to raise rates in the past even when it was pointed out that the housing market was dangerously overheated, citing that "it's not in our remit to base our decisions on data from the housing market". When the drop was justified in part because "the housing market has softened".

Their only get out of jail card could be that we see a massive HPC, and they can then claim that they're doing the best that they can from a weakened position. And that the crash would be so much worse if we hadn't acted.

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