Lloyds banking groups ‘Halifax house price index’ has announced a fall in UK house prices for the 3rd successive month. http://www.lloydsbankinggroup.com/media1/research/halifax_hpi.asp
I think we will see more of these headlines over the coming months, but would preach caution over taking such statements at face value. My view is that such headlines will be offset by a different message early in the New Year.
Once the government cuts, and changes to VAT have taken time to settle, I think house prices will recover quite quickly.
There is still a huge pent up demand for properties in the UK. As soon as more competitive mortgage products are introduced to the market, I think we will see steady growth and a rapid increase in turnover.
MN
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