Housing Bubble 2.0 is bursting, & the wipeout of fake “value” created by fake money is going to be epic.
via dailymail.co.uk:
House prices in Britain fell at the fastest annual rate in 12 years in June, latest figures show.
Halifax said the annual fall of 2.6%, equating to around £7,500 being wiped off the average UK house price in cash terms, was the biggest since 2011.
On a month-on-month basis, property values dipped for the third month in a row, with an average decline of 0.1% in June.
It comes after Knight Frank yesterday reported the UK had plummeted from 26th to 47th place in its global rankings for house price growth over the past year.
Kim Kinnaird, director, Halifax Mortgages, said: ‘The average UK house price fell slightly in June, down by around £300 compared to May, with a typical property now costing £285,932.
‘This was the third consecutive monthly fall, albeit a modest one. The annual drop of 2.6% is the largest year-on-year decrease since June 2011.
h/t Simian_Stacker