http://www.hbosplc.com/economy/includes/05_12_07HousePriceIndexNov2007.doc
Down 1.1%, and last month revised downwards from -0.5% to -0.7%. Fortunately for home owners, Martin Ellis states that
"The UK economy is in sound shape. Strong market fundamentals, a structural housing supply shortage and pent-up demand from a large number of potential first-time buyers will support house prices, preventing a sustained and significant fall. I have put my own money on Spreadfair as I am so confident"
Actually, he didn't say the last bit, I made it up, but he really should be putting his money where his mouth is. As you can from my post a few weeks back, Spreadfair is predicting even greater falls
http://www.noelwatson.com/blog/PermaLink,guid,36bbf00c-9e24-42e8-b405-053aa7a525b4.aspx
Another vested interest states
"house prices have continued to grow at a healthy rate over the last two or three months"
http://www.ifaonline.co.uk/public/showPage.html?page=661317
We have seen Halifax's numbers, and Nationwide shows 0.7%, 1.1%, -0.8%, so that's an annual rate of below inflation and interest rates - hardly healthy!
Will the MPC cut rates in a futile attempt to stop the downturn. It is a very close call on Betfair
On a related issue, we are about to remortgage and found the following site useful
http://www.halifax-intermediaries.co.uk/tools/product-search/#results
