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House prices 'heading for double dip'
carolt
Posts: 8,531 Forumite
Third consecutive monthly fall suggests evidence is growing of a 'double dip' in the housing market, say analysts Acadametrics
Average house prices fell for the third month in a row during May, according to the Acadametrics index, the only measure which uses actual prices for every property transacted in England and Wales rather than valuation estimates or asking prices.
The scrapping of home information packs (Hips) and fears over a steep rise in capital gains tax (CGT) on second homes and buy-to-let properties propelled more homes on to the market, driving down prices for the third successive month.
The average price in May was £220,352, a fall of 0.2% on the month before. The figures suggest that the housing market may be experiencing a "double dip", with the post-credit crunch recovery – which saw prices start to rise again in 2009 – now over.
Acadametrics reported declines in May across the country, ranging from a 2% fall in the east Midlands to a 0.1% fall in Greater London.
The number of homes sold also fell in May, down by an estimated 18% from April levels which were themselves running at approximately 35% less than the number of properties sold in April 2007.
http://www.guardian.co.uk/money/2010/jun/11/house-prices-double-dip
Average house prices fell for the third month in a row during May, according to the Acadametrics index, the only measure which uses actual prices for every property transacted in England and Wales rather than valuation estimates or asking prices.
The scrapping of home information packs (Hips) and fears over a steep rise in capital gains tax (CGT) on second homes and buy-to-let properties propelled more homes on to the market, driving down prices for the third successive month.
The average price in May was £220,352, a fall of 0.2% on the month before. The figures suggest that the housing market may be experiencing a "double dip", with the post-credit crunch recovery – which saw prices start to rise again in 2009 – now over.
Acadametrics reported declines in May across the country, ranging from a 2% fall in the east Midlands to a 0.1% fall in Greater London.
The number of homes sold also fell in May, down by an estimated 18% from April levels which were themselves running at approximately 35% less than the number of properties sold in April 2007.
http://www.guardian.co.uk/money/2010/jun/11/house-prices-double-dip
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Comments
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Darn, Wookster beat me to it while I was on the phone!0
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Just out of interest Carol. What is the point where you will buy somewhere?0
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House prices have been falling in my area for many months now. So the double dip just isn't just speculation, it's a cast-iron fact.0
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Just out of interest Carol. Why did you feel the need to post a second thread on this?0
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You don't get tired hearing good news, maybe that's why.
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Blacklight wrote: »Just out of interest Carol. Why did you feel the need to post a second thread on this?
Because I hadn't seen Wookster's thread, as per my second post. I answered the phone mid-post, and Wookster snuck in and posted the same thread!
Just out of interest, Blacklight, why did you feel the need to ask about this when I'd already explained this in the second post?
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ruggedtoast wrote: »Just out of interest Carol. What is the point where you will buy somewhere?
Described ad infinitum.
Will refer you to my previous posts so as not to bore too many.0 -
Blacklight wrote: »Just out of interest Carol. Why did you feel the need to post a second thread on this?
Actually it's the third someone started one around 9am thsi morning tooChuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop0 -
Welll that's lovely. Esp as the article only came out at 11.30am, they must have been prescient!0
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Welll that's lovely. Esp as the article only came out at 11.30am, they must have been prescient!
But the article/report that the Guardian refers to came out sooner (doh!)Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop0
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