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House prices drop 0.6% in September
JohnInDebt
Posts: 893 Forumite
House prices fell by 0.6% during September as the property market continued to show signs of running out of steam, figures have revealed.
The fall, the biggest drop since last December, helped pull annual house price inflation down to 10.7%, its lowest level since May, according to Britain's biggest mortgage lender Halifax.
Sources: http://uk.news.yahoo.com/pressass/20071004/tuk-house-prices-drop-0-6-in-september-6323e80_1.html & http://news.bbc.co.uk/1/hi/business/7027400.stm
The fall, the biggest drop since last December, helped pull annual house price inflation down to 10.7%, its lowest level since May, according to Britain's biggest mortgage lender Halifax.
Sources: http://uk.news.yahoo.com/pressass/20071004/tuk-house-prices-drop-0-6-in-september-6323e80_1.html & http://news.bbc.co.uk/1/hi/business/7027400.stm
Disclaimer: Any spelling mistakes or incorrect grammar is purely coincidental and in no way reflects the intelligence of the author.
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Comments
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vested interest these banks, I wouldn't trust their reports, always telling us prices are going up, well what do they know
*rant*
*rave*
wait a minute...drop?0 -
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I thought that house prices could only ever go up.
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On average it was dry in Britain yesterday - so why did I get wet walking to the shops?
This sort of national average for HP movements is the classic bikini statistic - What it reveals is interesting what it conceals is vital.0 -
But there was a bigger drop last December. And that didn't signal the start of a HPC.
Where's the adjustment for seasonal variation?Mortgage | £145,000Unsecured Debt | [strike]£7,000[/strike] £0 Lodgers | |0 -
"Helped pull anual houseprice inflation down to 10.7%"
So we have a small fall in a rising market or am I reading this wrong? ;-)0 -
At the moment it is being reported that the middle of the wealth houses (i.e. houses between 1mil and 5mil) are slowing down due to uncertainty about city bonuses - couldn't this cause an average drop in houseprices of 0.6% or am I getting this completely wrong?0
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