Archive news can be found at the bottom of the page

House Prices Fall By 0.5%

Nationwide December House Price Report - House Prices Fall By 0.5% 28 Dec 07

• House prices fell by 0.5% in December, the second consecutive monthly decline

• The average price of a UK property is £8,334 higher than a year ago

• Rate cuts will help but are unlikely to re-ignite the housing market as in 2005

Commenting on the figures Fionnuala Earley, Nationwide's Chief Economist, said:

“UK house prices fell by a seasonally adjusted 0.5% in December, recording their second consecutive month-on-month fall. The annual rate of house price inflation fell to 4.8%, compared to 6.9% in November and 10.5% in December 2006. The average price of a UK property rose by £8,334 over the last 12 months, leaving it at £182,080 at the end of 2007. The three-month on three-month rate of growth – a smoother indicator of house price trends – fell from 1.4% in November to 0.9% in December, the lowest since November 2005.”

by: Editor

Back to News

News Archive