Wednesday, January 16, 2008

House Prices Falling

House prices fall at fastest rate since '92

LONDON (Reuters) - House prices fell in December at their fastest rate since the recession of the early 1990s, a survey showed on Wednesday, raising fears the country's once buoyant housing market is heading for a sharp downturn. The Royal Institution of Chartered Surveyors' house price balance fell to -49.1 in December, its lowest since November 1992, from -40.6 in November. The consensus was for a more modest drop to -45.0 and the fall marked the fifth consecutive month of easing prices. Surveyor confidence in the sales and price outlook deteriorated markedly, the survey showed, with both measures reaching their lowest level since the questions were first included in the survey in 1998. ...

Posted by ukuser1 @ 10:45 PM (458 views)
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One thought on “House Prices Falling

  • Another piece of misinterpretation. What the data mean is that more estate agents report falling rather than rising prices; it says nothing about the rate of the fall. So what this really means is that house price falls are now as widespread as in 1992.

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