Thursday, March 3, 2011
Hometrack: -0.2%MoM, -2.7%YoY
House prices in England and Wales fell at their fastest annual rate in more than a year in February, although a rebound in new buyers slowed monthly rate. Hometrack said prices fell 0.2 percent in February, the smallest monthly decline since July. However, the data are not adjusted for seasonal fluctuations, and Hometrack said the improvement could be due to a mix of seasonal factors and pent-up demand after weakness at the end of 2010. Indeed, on an annual basis, house prices fell 2.7 percent last month -- the biggest fall since November 2009.