Tuesday, April 15, 2008
UK surveyors recently reported the most extensive fall in house prices previous month in the 30-year history of their RICS market study, signifying the property slump is collecting pace. Sterling cut down to a fresh record low against the euro after the Royal Institute of Chartered Surveyors study as investors worried the weak housing market would take its tax on the broader economy.
The net balance of surveyor’s coverage falling, other than rising, house prices worsening to -78.5 in the three months to March from -65.7 in February the lowest since the study started in January 1978 and well below forecasts for a interpretation of -67.5. "The risks of a serious housing led slowdown in the UK are rising by the day," said George Buckley, chief UK economist at Deutsche Bank
The net balance of surveyor’s coverage falling, other than rising, house prices worsening to -78.5 in the three months to March from -65.7 in February the lowest since the study started in January 1978 and well below forecasts for a interpretation of -67.5. "The risks of a serious housing led slowdown in the UK are rising by the day," said George Buckley, chief UK economist at Deutsche Bank
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by Vijay @ 5:02 AM
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