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.
Average property prices have fallen by 8.1% over the last 12 months and are now at a level last seen in January 2006 according to Hometrack.
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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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Hometrack’s latest house price survey shows that prices fell 1% over September - the twelfth consecutive fall since the start of the credit crunch.
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House prices in August fell for the eleventh month - down 0.9%, compared to 1.2% the previous month, Hometrack has said.
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July saw the tenth consecutive fall in house prices this year with price falls more concentrated in southern England, Hometrack has said.
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House prices fell again in June - the ninth consecutive fall in a row, with average house prices now down by 1% over the month and by 2.5% over the first half of 2008.
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A new study into the national profile of housing affordability compiled for Hometrack, the housing intelligence business reveals that over a quarter (28.3%), of young working households in Britain are unable to access the very lowest rungs of the property ladder in their local market.
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House prices fell for the eighth month in a row in May according to the latest national housing market survey from Hometrack, the Housing Intelligence Business.
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House prices fell for the seventh consecutive month during April with average prices down across half of the country with the average fall being 0.6% over the month.
House prices fell for the sixth month in a row over March with average prices down 0.2% over the month and the annual rate of growth slipping to +0.4% - the lowest level for 2 years, Hometrack has said.
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