The June report from Nationwide is out at last and shows further falls in house prices.
The full report is here
I have commented on the report later in this post, but first here is Financial Planner from housepricecrash.co.uk on BBC breakfast talking to Declan.
House prices were down 0.9% in the month, down 6.3% over the last year and down 7.3% since the market peaked in september. The data continues to show a weakening housing market. The report mentions housing transaction levels are key to house price movements and as transactions are now the lowest ever recorded, this points to a still further deterioration in house prices.
Tuesday, 1 July 2008
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2 comments:
Brilliant....
Either Declan is dim, running scared or a puppet for the housing industry. Look around mate, what are prices doing??!?! He really came over as a novice.
The woman on there was more realistic and probably knows the reality even if she can't say it.
FP, I've been called a loony for my stance on not buying over the last 5 years. AM I glad I stuck to my guns!!
Keep the faith!
Frank
Good work JD! And when someone says 30 percent is alarmist let's remember it's only the gains of the last three or four years; it's 30 percent off a very high number. Anyone who bought prior to 2002 will probably be able to sell for a healthy profit even at the depth of the coming slump (assuming no MEW of course!)
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