Monday, Nov 30, 2009

Hometrack: +0.2% MoM, -2.9% YoY

Bloomberg: UK house prices rise for fourth straight month

U.K. house prices rose for a fourth month in November, as the shortage of homes for sale sustained the property market, Hometrack said.
The average cost of a home in England and Wales climbed 0.2 percent from October to 156,700 pounds, the property-research company said today. Prices are down 11 percent from the 2007 peak. A separate report showed consumer confidence fell for the first time this year.
“It is easy to see how agents are beginning to feel more confident about sustainable pricing levels -- at least in the short term,” Richard Donnell, Hometrack’s director of research, said in the statement. “A decline in demand is inevitable in the run up to Christmas but there are signs that the upward pressure on prices is likely to decline in the months ahead.”

Posted by little professor @ 01:06 AM (1127 views)
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3 Comments

1. Eternal Sceptic said...

The last part of the last sentence has to be the understatement of the year.

Monday, November 30, 2009 09:04AM Report Comment
 

2. will said...

One of the Bloomberg TV team this morning added; 'prices of London prime residential market, properties above £1 million, rose this month for the first time following a 25% decline.

Did I miss something ? Following a 25% decline ?

Monday, November 30, 2009 09:55AM Report Comment
 

3. This comment has been removed as it was found to be in breach of our Blog Policies.

 

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