UK house prices were down 2.6% in value during November, representing an annual drop of 14.9% since last year according to new figures from the Halifax.
Annual house prices in England and Wales fell by 8 per cent in September to prices last seen in autumn 2006, according to the latest figures from Land Registry.
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UK house prices fell for the 12th consecutive month during October and are now nearly 15% lower than a year ago, according to the latest research from the Nationwide.
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Net mortgage lending by building societies increased to £314 million in September, from -£37 million in August, but was still 47% lower than the figure for September last year, the Building Societies Association (BSA) has said.
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Alliance & Leicester is launching a new range of mortgages, with all fixed rate products to be reduced by between 0.20% and 0.30% compared to products on it’s previous portfolio.
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Northern Rock has announced its new range of mortgage products offering a free basic valuation and free standard legal work for residential remortgages.
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The last 12 months have seen average property prices fall by 7.3%, taking values back to a level not seen since March 2006 according to Hometrack.
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European Central Bank (ECB) president Jean-Claude Trichet has hinted at the possibility of a further interest rate cut at its next meeting on November 6th.
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House prices in the UK won’t get back to their 2007 highs until 2013 according to the Centre for Economics and Business Research (CEBR).
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Although some Polish workers have recently left the UK, new research shows that there has been a new wave of demand from Poland for UK rental properties as others now consider a move to the UK, reveals statistics from ludlowthomson.com, London’s lettings agent.
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Members of the National Association of Estate Agents (NAEA) reported that the housing market in September still provided challenging times for its members but that the re-emergence of first time buyers may be the first sign that the recent Government intervention is beginning to work.
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