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Realistbear

Hometrack: 3 Regions Are Going Down

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http://www.dailymail.co.uk/pages/live/arti...amp;ito=newsnow

House price rises grind to a halt
Last updated at 17:46pm on 24th August 2007
House price inflation ground to a halt this month with parts of the country registering monthly falls, a report showed today.
Property website Hometrack said it was the worst monthly performance since November 2005, providing further evidence that the market had entered a deep-rooted slowdown.
A fifth month of weakening price inflation dragged the rate of annual change down from 5.9per cent in July to 5.4per cent.
London was the only region to see property values increase in August. But, an increase of just 0.1per cent in the capital, compares unfavourably to a recent high of 1.8per cent in March.
Three regions saw average house prices fall during the month
- Yorkshire and Humberside, the North and the South West.
Stagnation in all other regions meant the typical price of a home in England and Wales remained at £176,300.

I can hear the sound effects of Gordon's HPI-MEW-BTL ship grinding to a halt. It is a ghostly metallic sound with creaks and groans of straining metal coming up against the opposing forces of an unstoppable tidal swell headed in the opposite direction.

As City jobs are shed and debt becomes more than just illusion this Autumn should see a nice pick up in GC2.

Edited by Realistbear

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'I can hear the sound effects of Gordon's HPI-MEW-BTL ship grinding to a halt. It a ghostly metallic sound with creaks and groans of straining metal that is coming up against the opposing forces of a tidal swell headed in the opposite direction'

:lol: you should seriously think about a new career writing fiction books!

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"....providing further evidence that the market had entered a deep-rooted slowdown. "

The Mail don't half write some rubbish. One set of figures (which were last months too) and the market is in a deep rooted slowdown"

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"....providing further evidence that the market had entered a deep-rooted slowdown. "

The Mail don't half write some rubbish. One set of figures (which were last months too) and the market is in a deep rooted slowdown"

To get to MoM negative you have to see several months of slowing. A trend appears to be rooted and I think this is what the Mail are saying. Wait for YoY negative and you have missed seeing it coming. And seeing it coming is the key--most don't and this is why they get caught in the rush to sell on a falling market. Housing booms and busts are a slow cycle and take years to play out.

Hometrack reports puts it well:

http://www.iii.co.uk/news/?type=afxnews&am...;action=article

LONDON (Thomson Financial) - UK house prices were unchanged in August from July, the lowest rate of growth since November 2005 and marking
five consecutive months of slowdown
, a leading property website reported.
In its latest monthly survey, Hometrack said increased pressures on affordability led August prices to remain flat in July, bringing the annual rate of growth down to 5.4 pct from the previous month's 5.9 pct.
The number of postcode areas registering increased prices fell to 9.3 pct from July's 14.6 pct.

All mist to the grill. :P

Edited by Realistbear

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