UK house prices have seen an annual double-digit fall for the first time since 1990, according to the latest survey from the Nationwide.
Prices were 10.5 per cent lower in August than they were a year ago.
The average home now costs £164,654, which is more than £19,000 cheaper than the average price one year ago.
Prices fell by 1.9 per cent compared with July.
Gloomy forecasts from house builders mean the market is likely to remain subdued, according to Nationwide.
5 Comments
house prices to fall 20% next year dont buy untill 2010 at the earlist
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House prices are falling right now but not to the extent that you see in newspapers. They use one source such as Nationwide but the only indicator to use is land registry. A recent report from them suggest that prices have fallen 5.9% at worst in some areas of the country. In the Midlands it’s 3-4%. Talk of 20% drops is nonsense. Just sit tight, sell if you have to, otherwise don’t. First time buyers shouldn’t be scared to buy unless they have reason to believe they won’t keep up payments. It’s a good time for them to buy.
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House prices have already fallen but I predict by the end of next year we will have seen falls of at least 35% with further falls in 2010.
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House prices to fall by at least 35% by the end of next year with further falls in 2010. Hold tight and do not buy. If you have seena property you like offer at least 30% less than the listed proce. Do not chase the market down!
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i have saw a property 3 bed old terraced house with celler 95,000 how much should i be offering
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