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UK Housing Prices

Thursday, August 28, 2008

Was reading The UK Sun and the following article caught my attention: House price fall fastest for 18yrs

  • HOUSE prices are falling at the fastest rate for 18 years, it was revealed yesterday.

    They tumbled another 1.9 per cent this month.

    And that took the annual rate of decline to 10.5 per cent — not seen since the 1990 property crash.

    The drop was revealed as a CBI survey showed high streets are suffering their worst sales slowdown for a quarter of a century.

    House prices have now fallen for ten months in a row.

    And Nationwide’s chief economist Fionnuala Earley warned a recovery was unlikely in the near future.

    She said builders had reported much lower interest in new houses.

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