Record Fall In UK House Prices
October 2nd, 2008House prices in the UK have fallen by a record 12.4% in the past year (September 2007-08), according to the Nationwide Building Society.
This figure is due to the worldwide economic situation which is steady worsening along with the tightening up of bank lending. We are seeing an increase in property for sale and a firm decrease in available purchasers with first time buyers all but come to a grinding halt. We are seeing a steady fall in houseprices nationally with places in Ireland now being a third less than they were a year ago.
Varied websites monitor this downturn curve including HousePriceCrash and PropertySnake. When will the right time to be to buy again?
Leave a Reply
You must be logged in to post a comment.