Monday, April 16, 2007

UK Property Prices Fall – Official!

Slight fall in UK property prices

Official figures from Department for Communities and Local Government (DCLG) showed that average UK property prices fell in January and February of this year. Obviously, this is in sharp contrast to the increased asking prices that Rightmove.co.uk reports being requested. Either there is some big discounting going on, or somebody is trying to muddy the waters! - Maybe both!

Posted by royston @ 11:35 AM (489 views)
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7 thoughts on “UK Property Prices Fall – Official!

  • The ‘spin machine’ is preparing the ground for another IR “hold” in May
    Prices will start rising again at double digits after the next BoE meeting

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  • Eh? What?

    Last week the headlines were all ‘House prices are booming’ type, now we are approaching the BoE decision these stories how how house prices are falling are being trotted out.

    Maybe I am just ebing cynical but I have noticed this as a type of pattern.

    I suspect after the next decision where rates will most likely be held that it will be another round of house prices boom style.

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  • This is from Bloomberg:

    Britain’s house-price inflation quickened to the fastest pace in almost two years in February, a report today showed. Home values rose 12.1 percent in the year, the most since March 2005, after a 10.9 percent gain in January, the Department for Communities and Local Government said.

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  • The reason for this statistical quirk – a monthly price fall but an annual rise – is that an even sharper fall in prices exactly a year ago dropped out of the figures.

    Ohhhhhhh so really they are still going up but this headline confuses the BoE, typical.

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  • A rate decision is not particularly imminent, but it is true that the BBC could have picked up on other reports of price falls from any of a number of sources over the last six months, but chose to stoke the frenzy instead with stories of “strong demand”.

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  • Prices down 0.1%. Wow! I know that the eventual fallout will be a lot worse than this. It is intended to throw bears off course “You have had your little fall now go away” but it won’t work.

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  • not so fast people, it’s a “statistical quirk”. although they don’t seem try and explain it.

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