Saturday, December 8, 2007
The trend is your friend
"House prices in England and Wales increased by just 0.5% in November, suggesting that last month's rise of 0.7% was a blip. On an annual basis, the rate of house price inflation has continued the downward path recorded since June, and is now 9.1%, the lowest level since January this year."The FT index is based on all property transactions in England and Wales, and our evidence of a softening market is very much in line with other indices despite the different reporting bases. The prices on which the FT index is based reflect transactions agreed some weeks ago. With continued weakening in consumer confidence and the further negative commentary on market prospects in 2008, we would expect this downward trend to continue.