Thursday, 2 October 2008

UK Home Price Plunge Continues

Nationwide today reported that UK home prices fell -12.4% from the previous year and are now down -13.0% from their peak in October 2007.

The average home price has fallen from around 186k - 162k. The problem here is that the declines are showing no signs of slowing. Last month I said declines could top -15% before the year is out. That now looks to be a safe bet.