Sunday, February 24, 2008

Hometrack -0.2% in Feb, +1.4%YoY

House prices continue to drop as boom ends

House prices have fallen for the fifth consecutive month. The average price in England and Wales has dropped to £174,400, nearly £ 2,000 lower than it was in the autumn. Hometrack said prices fell by 0.2% in Feb, taking the annual rate of house price inflation to just 1.4% The 8% rise in February in the number of new buyers registering with agents was well down on the 25% increases recorded in the same month in the previous two years. The average length of time on the market was 8 weeks, the longest since Hometrack records began in 2001.

Posted by little professor @ 10:57 PM (742 views)
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3 thoughts on “Hometrack -0.2% in Feb, +1.4%YoY

  • Mikelivingstone says:

    “Without these deals, first-time buyers will be forced to start saving, or never fulfil their dream of buying a home. ”

    Well shouldn’t they have been doing this anyway rather than being encouraged to buy plasma screens.

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  • Mikelivingstone says:

    “Without these deals, first-time buyers will be forced to start saving, or never fulfil their dream of buying a home. ”

    Should they have been doing this in the first place. Seems to imply everything should rely on credit.

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  • check the title change… now the boom is officially over… champagne anyone?

    Boom ‘offically’ over as house prices plunge for fifth month in a row
    http://www.dailymail.co.uk/pages/live/articles/news/news.html?in_article_id=518411&in_page_id=1770

    “House prices have continued their plunge after falling for the fifth consecutive month, a report reveals today.
    They started falling in October – and are still going down in February, according to the figures from the property information firm Hometrack.
    The average price in England and Wales has dropped to £174,400, nearly £2,000 lower than it was in the autumn.”

    MAWHA AH AHAHA HHAHAHHAAH HAHAHHA AH HAHAHA HHAHAHHAH

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