UK Housing Market Slowing faster than expected
05 June 2008, 10:16:57
The UK housing market is slowing faster than most expected with the May's HBOS House Price Index came in at -2.4% m/m and -3.8% y/y, well below the -1.0% and -3.5% forecasts and -1.3% and -0.9% last. Although this may not be enough for the Bank of England to cut rates later today.
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