Monday, May 30, 2011

Caused by holidays?

House prices fall sharply in May - Hometrack

"House prices in England and Wales dropped at their fastest annual pace in over 1-1/2 years in May as demand fell for the first time since January, a survey showed on Monday".

Posted by alan @ 10:11 AM (2478 views)
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5 thoughts on “Caused by holidays?

  • little professor says:

    Bit of a misleading title. Prices fell 0.1% month on month, following a 0% change the previous month. Hardly crash speed. The annual rate of decline is accelerating because house prices were rising this time last year.

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  • Bank holidays? Hot weather? Royal wedding?
    I wonder if any of these never ending surveys will ever include in their reports that “demand is low because property prices are too high”?

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  • righttoleech says:

    Excellent analysis of the hyperbole Little Professor.

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  • Sorry LP,
    I just cut’n’posted the title into the box marked Source Title. I came to the same conclusion after I’d re-read it.

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  • Isn’t this one subject to no seasonal adjustment? A fall in peak buying season would then be more significant than the actual size of the drop.

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