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Shahla
Money Managing Guru
Joined: 13 Nov 2004
Posts: 3324
Cash Points ££ 126163.28
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 Posted: Sun Jan 06, 2008 11:53 am Post subject: UK House Prices Fall by 0.5% During December |
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By: Nationwide
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
Headlines December 2007 November 2007
Monthly index * Q1 '93 = 100 366.4 368.2
Monthly change* -0.5% -0.8%
Annual change 4.8% 6.9%
Average price £182,080 £184,099
* seasonally adjusted
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.“
http://www.marketoracle.co.uk/Article3206.html |
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