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Fragile house recovery falters as prices drop 1.5%

"Despite this fall, the average price is 8.0% above the trough reached in April 2009.

"There has been a decline in the underlying rate of house price inflation – measured by a comparison of the latest three months with the previous quarter – over the last few months.

"An increase in the number of properties available for sale has helped to reduce slightly the imbalance between supply and demand. At the same time, the bad weather in the first two months of 2010, together with the return of the lowest stamp duty threshold to £125,000, are likely to have had an adverse impact on housing demand. The combination of these factors appears to have helped to curb the upward pressure on house prices."

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One thought on “Fragile house recovery falters as prices drop 1.5%

  1. Major Landlord says:

    It looks like some of this story is missing (like the name of the idiot who submitted it), but that’s not important right now (as they sayin the movies).

    Take a look at the headlines of your related stories over recent months:

    * 2009-02-05 – UK house prices in shock 1.9% increase
    * 2009-03-06 – UK house prices drop further 2.3% in February
    * 2009-05-07 – More evidence rate of house price decline slowing
    * 2009-06-04 – Glimmer of optimism as house prices rise 2.6%
    * 2009-07-08 – UK house prices fall 0.5% in June
    * 2009-08-05 – Halifax records further rise in UK house prices
    * 2009-09-11 – Average UK house price rose by 0.8% in August

    . . . and you will reach the same conclusion I have: none of these stories are reliable, as they simply contradict each other.

    The fact is, there are NO real trends that are worth measuring or identifying. The story varies from street to street, town to town, and day to day.

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