Now you can get 1.4 of a British house! by Barbie Kunkelova

Be prepared to withdraw £198,500 from your wallet, pockets and accounts for an average UK property. Due to the five famous increases in real estates market since the summer of 2006, the UK citizens are now facing a pretty special case & a downturn in price of houses! The UK's biggest mortgage lender, the Halifax, stated that its prices fell by 0.6% this September. The price growth has been slowed down; this quarter's sales rose only by 0.9%, while in previous quarters the increases were of 2.3% and 3%. However, the leaders of real estate and mortgage companies do neither worry nor fret too much about this news. They are sure the UK market is in a great vital state and this drop is only a usual part of a market's behavior, so very typical for any autumn in any country. A nice drop in house price has been happening in Ireland too, during the past three months there was a drop of 3.2%, ladies and gentlemen! Such situation hit Japan in 1980s. In the end it led the country of the rising sun to lower consumer spending! Similar problems are facing citizens of the US, though on a much milder basis. Since last autumn, the American house prices fell down by 1.3%! I wish we had the same problem in Slovakia!

related story: http://uk.news.yahoo.com/afp/20071010/thl-health-sport-running-shoes-96993ab_1.html

by Barbie Kunkelova for PocketNews (http://pocketnews.tv)

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Edited by Iveta Nagyova