UK house prices have dropped a further 1.7% in September, making it the 11th month in a row that house prices have fallen. Nationwide, who released its results last week, stated that house prices were down 12.4% since last year. This means that the average UK home is now worth more than £20,000 less than this time last year.
House prices dropped throughout the UK, with the South of England falling more than the North. The rate in which the house prices have fallen has stabilised over the past couple of months, but Nationwide warned that the next year or so would be difficult.
In England the South was hit harder be declines, with the South West and East Anglia showing an 11.4% fall. Scotland saw a 4.6% drop, and Wales saw the smallest fall of 1.9% from July to September.
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Posted on October 6th, 2008 at 5:26 am
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