31 December, 2008

UK: House prices

The figures are in from the mortgage lenders. It seems that from the peak in Apr-Oct 2007 the average house price has declined about 12%, to where it was three years ago. That is to say what they put on between early '06 and mid '07 they have now lost.

Not quite such a disaster as the press would have us think. I suppose there's not much of a story in 'house prices don't decline much'

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