UK house prices have fallen 10.5% this year, says Nationwide Building Society
Thursday, August 28, 2008 After dropping 1.9% in July, house prices in the United Kingdom are now falling at the fastest rate since 1990, according to Nationwide Building Society. The average price of a home has dropped by £20,000 down to £164,654, losing 10.5% of its value in 2008. Property values fell by 1.9% in the past month, and 1.5% in July. In another study, it was revealed that house prices have been steadily falling since October last year. Nationwide’s chief economist, Fionnuala Earley said that activities in the housing…
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