The Oil Drum

39 comments on Russian Gas Supplies next winter for Europe ?

Comments can no longer be added to this story.

haggisbasher on September 9, 2006 - 6:02am

Yes, the price for Brent crude is declining - as is production, of course. And as are British home prices, apart from London and foreign buyers, often just coincidentally from countries where oil is the major export commodity.

Where does the information on UK house price falling come from?

Average price rise in the UK over 12 months to Aug 7.7 %. That is comfortably above the rate of inflation, and all areas with high volume of sales show increases.

http://news.bbc.co.uk/1/shared/spl/hi/in_depth/uk_house_prices/html/houses.stm
Apart from that, I entirely agree that the breadth of perspective given by the links to various stories from around the world is an enormous plus to the site - Leanan does an excellent job here.

Comments can no longer be added to this story.

expat on September 10, 2006 - 1:48am

Actually, my information is a touch out of date, it seems -

'House prices in Britain rose 0.2% in July after two months of declines, to an average of $333,992 according to the Halifax Index, kept by mortgage lender HBOS.'

http://news.moneycentral.msn.com/provider/providerarticle.asp?Feed=BWK&Date=20060823&ID=5966 295

It seems as if the consensus opinion is that as long as the Bank of England leaves interest rates untouched, the price rises will continue or at least not decline. Which was certainly the case during late 2005, when the hissing from the bubble started to get a bit deafening.

Of course, the British experience in the early 1990s remains a wonderfully documented cautionary tale of how a real estate market can rise and fall in a natural rhythm.