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Russain Media: British Property Falling At The Same Pace As During The Great Depression

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Poor Foxtons and Savills! How will they cope with this kind of negative propaganda talking the market down? Rich foreign buyers aren't completely stupid.


This board is getting high-brow. I got an A in my 'O' level and I still found that article a bit tricky!

But how can Russians ewven read it? They didn't bother to transliterate Halifax

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This board is getting high-brow. I got an A in my 'O' level and I still found that article a bit tricky!

But how can Russians even read it? They didn't bother to transliterate Halifax

They don't normally transliterate proper nouns unless they are very common and then they normally have a different spelling, for example Sotheby's is Сотбис. Russians don't have any problem with Latin script even if they can't speak English or another western European language.

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Babelfish translation:


It almost makes some sense.....

I like the first line, does it mean 1930s prices.

British real estate fell to the level of the Great Depression Aleksey [Muzychuk] amuzyechukatcharya.ru 11.07.2008 14:18 To read commentaries (0) The worse crisis of real estate from the times of the Great Depression overtake Great Britain. House prices taking into account inflation fell to the very low level for the latter several decades. In 2008 British houses fell in price already to 8,7% - such given it gives the largest national mortgage bank Of halifax. These data mean that the present crisis already exceeded on the growth rates in the event of the beginning of the 1990's (time of the devaluation of pound). Meanwhile Bank of England decided to leave without the trend of discount rates in 5%. Data data bank Of halifax in the cost of houses on 2% in June, and on 2,5% in May) prove, that on the rates of development, present crisis let us completely compare with the situation on the market for British real estate of 1930. If the present rates of drop it remains, then the country can not only repeat sad record of 1931 (annual drop in the cost of houses more than on 10%), but also to exceed it.

In the distant 1931 countries it forewent the gold standard of pounds sterling. " Pound collapsed immediately after failure of the standard, recalls David Owen from Dresdner Of kleinwort. - And although this measure stimulated export, following the pound collapsed the real estate market. Now we clearly observe some parallels with that of [situatsiey]". According to the data of Bank of England, the number of those approved by banks and financial companies of the mortgages in May composed only 42000 - this to 64% is less than during the analogous period of last year. Economists predict, which for Bank of England nevertheless it is necessary to decrease the stock-taking rate of already in autumn this year, if economic growth is slowed down. According to the information Of daily Of telegraph.

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  • 399 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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