Biggest house price drop in 12 years sees £7,500 wiped off UK average amid annual fall of 2.6%

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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.

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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.

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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

 


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