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)
5 thoughts on “Caused by holidays?”
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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.
Majic says:
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”?
righttoleech says:
Excellent analysis of the hyperbole Little Professor.
alan says:
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.
rantnrave says:
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.