Thursday, February 11, 2010
Second leg down forming?
The prices of properties sold at auction versus the rest of the market widened in January - a signal of futher house price weakness ahead, says an economic forecaster today. The reading on the Fathom-Zoopla Auction Price Index (API) in January was 71.9, suggesting homes under the hammer were sold at a 28.1% discount. In December the gap was only 19%.