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06/11/2008
UK House Prices Drop By Record 14.9%
British house prices have fallen by a record 14.9% over the past 12 months, according to the latest survey by the UK's biggest mortgage lender.
The Halifax house price survey showed house prices fell by another 2.2% in October - with the average UK home now costing £168,176, almost £30,000 less than a year ago - the ninth successive fall after September's 1.3% fall.
The building society said the drop means house prices are now in line with what they were in October 2005.
Martin Ellis, Chief Economist, commented: "Housing market conditions remain challenging in the face of the significant pressures on householders' incomes and the reduction in the availability of mortgage finance since last summer.
"Prices are still falling and they're falling at a faster pace than we've seen before."
Today's 17.9% decrease is the biggest annual decline since Halifax began keeping records in 1983. It also exceeds the last housing market crash in the early 1990s.
(JM)
The Halifax house price survey showed house prices fell by another 2.2% in October - with the average UK home now costing £168,176, almost £30,000 less than a year ago - the ninth successive fall after September's 1.3% fall.
The building society said the drop means house prices are now in line with what they were in October 2005.
Martin Ellis, Chief Economist, commented: "Housing market conditions remain challenging in the face of the significant pressures on householders' incomes and the reduction in the availability of mortgage finance since last summer.
"Prices are still falling and they're falling at a faster pace than we've seen before."
Today's 17.9% decrease is the biggest annual decline since Halifax began keeping records in 1983. It also exceeds the last housing market crash in the early 1990s.
(JM)
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07 September 2005
Halifax reports house prices rise
House prices rose by 1.6% in August, the UK’s biggest mortgage lender, has reported. However, the Halifax warned that the rise could be temporary, boosted by the recent interest rates cuts by the Bank of England. The price rise in August followed a modest 0.4% increase in July and was the biggest monthly rise since September 2004.
Halifax reports house prices rise
House prices rose by 1.6% in August, the UK’s biggest mortgage lender, has reported. However, the Halifax warned that the rise could be temporary, boosted by the recent interest rates cuts by the Bank of England. The price rise in August followed a modest 0.4% increase in July and was the biggest monthly rise since September 2004.
09 October 2008
Record Decline For UK House Prices
UK house prices have fallen at a record rate during the year to the end of September, according to Britain's biggest mortgage lender. The Halifax attributed the fall - which has seen house prices lose 13.2% of their value - as the biggest ever recorded by its house price index. The drop means the annual fall now stands at 12.
Record Decline For UK House Prices
UK house prices have fallen at a record rate during the year to the end of September, according to Britain's biggest mortgage lender. The Halifax attributed the fall - which has seen house prices lose 13.2% of their value - as the biggest ever recorded by its house price index. The drop means the annual fall now stands at 12.
15 October 2013
ONS Figures Show Record High For House Prices
According to new figures from the Office for National Statistics (ONS), UK house prices reached a record high in August, standing at 185.8. The average house price is now at its highest since the house price index was established in 1968, peaking at £247,000, according to the ONS.
ONS Figures Show Record High For House Prices
According to new figures from the Office for National Statistics (ONS), UK house prices reached a record high in August, standing at 185.8. The average house price is now at its highest since the house price index was established in 1968, peaking at £247,000, according to the ONS.
06 January 2009
House Prices Drop By 14.7%
House prices in the UK have fallen by a staggering 14.7% according to the Nationwide. Nationwide said prices fell by another 2.5% in December taking the average house price down to £153,048. The company said that prices have now fallen for 14 months and they are 18% lower than their peak in October 2007.
House Prices Drop By 14.7%
House prices in the UK have fallen by a staggering 14.7% according to the Nationwide. Nationwide said prices fell by another 2.5% in December taking the average house price down to £153,048. The company said that prices have now fallen for 14 months and they are 18% lower than their peak in October 2007.
05 April 2005
House prices rise following March dip
House prices increased by 0.5% in March, the Halifax has reported, offsetting the 0.5% fall in February. There has been "virtually no change" in UK house prices since last September.
House prices rise following March dip
House prices increased by 0.5% in March, the Halifax has reported, offsetting the 0.5% fall in February. There has been "virtually no change" in UK house prices since last September.
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