Oh No! Surely this is impossible?

[King Cnvt]

http://news.bbc.co.uk/1/hi/business/6916823.stm

House price growth in the UK "stalled" during July, suggesting that higher interest rates are starting to bite, the Nationwide has said.
Prices grew by just 0.1% in July, cutting the annual rate of growth to 9.9% from June's rate of 11.1%.

I mean, house prices only going up 10% per year?

How terrible.

[Bagpuss]

You are clutching at straws, Year on year is meaningless, even if they fall next month (which is likely) year on year will show a rise. An average of 0.1% is pretty much 0, it means prices will be falling in many places. The boom is over, as i said several weeks ago.

PS why are they publishing July stats in July?