Monday, Aug 21, 2006

Is this the *real* start of the downturn? Or another false dawn?

Bloomberg: U.K. House Prices Drop Most in Nearly 2 Years, Rightmove Says

*U.K. House Prices Drop Most in Nearly 2 Years, Rightmove Says*

Coming from the usually bullish RightMove this may at last signal VI acceptance that the market has peaked.

``Prices have passed their peak for 2006,'' Miles Shipside, commercial director of Rightmove, said in a statement. ``With the market cooling, and signals from the Bank of England that interest rates may move up again, sellers may have to reduce their price expectations.''

Posted by j.b.m.c. @ 08:56 AM (465 views)
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