Saturday, January 19, 2008

This is no false dawn, the white flag is flying…

UK house prices start the inevitable retreat from unsustainable highs

A bit more meat on the bone now the full report is available, that fall in London is stellar IMHO and unprecedented. Also of interest is just how quickly N.Ireland found reverse gear proving just how speculative some of the 'demand' was and more importantly just how difficult and time consuming it is to extricate from a purchase when you are in fact the greater fool... UK house prices in 2007 Quarter 4 were 5.2% higher than in 2006 Quarter 4 with the average price of a home in the UK increasing by £9,821 over the year to £197,071. The annual increase of 5.2% made 2007 only the second year since 2001 when prices have risen by less than the long-term average of 8%... -

Posted by converted lurker @ 11:44 AM (703 views)
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2 thoughts on “This is no false dawn, the white flag is flying…

  • CL,
    thank you for breaking into the news fabrication site of hbos. They also say this information is for VI journalist use and consumption only, not for the uneducated broad public who may form the wrong belief that prices do not go up forever

    I searched the site and found the 3Q press release on greater london. Noticed that they love 365 days moving averages (but we know they are long term investors) But compare these averages with those of 4Q 2007, and the worst performing borough is CHELSEA!
    AH HAHAHH AH. What a great news!

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  • converted lurker says:

    Well as an amateur economist/journo/publisher we have eevry right to publish it and make it live. This London myth keeps getting busted on a daily basis doesn’t it? Prime location were iirc the first to bust this myth by suggesting that London prices had fallen by 22K+ in 3 months in their report relating to November’s data, this confirms it. Keep an eye on prime location, that is very sound data IMHO.

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