Skinner has infiltrated BBC News!!!!

UK house price fall 'at a record'

UK house prices showed their biggest annual fall since the Nationwide began its housing survey in 1991.

The 8.1% annual decline came after house prices dropped by 1.7% in July, the building society said.

The average home now costs £169,316 which is nearly £15,000 cheaper than in the same month last year.

The Nationwide survey found that house prices have fallen for nine months in a row and were at their lowest level since August 2006.

Property prices were still £11,000 higher than three years ago, the survey found.

"The weakening economy and poor housing market sentiment do not suggest that the market will recover quickly," said Fionnuala Earley, Nationwide 's chief economist.

Sellers were remaining reluctant to accept lower offers, which along with lack of availability of mortgages was pushing down house purchase activity.

'Belt tightening'

Ms Earley said that consumers are tightening their belts in the current climate.

But she added that swap rates - the key driver of mortgage rates - had fallen slightly, which had allowed new fixed rate mortgage deals to come down in cost.

"As the cost of mortgages begins to come down, activity could be bolstered and restore some liquidity to the housing market," she said.

"However this is not expected to happen overnight."

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Turiko said:

Well I wouldn't be surprised if dear ole Skinner was actually in the UK taking stabs at MyBroadband for the amusement and dissemination of himself and his fellow poms...

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Generator Man said:

Don't worry, he's actually in Germany.

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Sneeky said:

[sarc on]Silly British wanting to own houses, they should rent, and sell the beamers and not by first class tickets,
[sarc off]

lollies

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Skinner said:

Nice spot I have to give credit.

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Deenem said:

So what's your first name, Ms. Earley??

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Deenem said:

Maybe he works there?!?!

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Turtle said:

I'm pretty sure Skinner didn't come up with the phrase 'belt-tightening', it is an extremely common phrase and has been for as long as I can remember. Hell even Mboweni was using it.

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EtienneK said:

Captain Obvious to the rescue!

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lilGr said:

[spell check on] buy* [spell check off]

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