UK house prices fall in December
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UK house prices fall for the second time in three months, according to Nationwide building society.
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Home prices in Britain fell the most in three years in December, and the threat of more declines may cause the property market to seize up in 2008, said Hometrack Ltd., a London-based research group. The average cost of a home in England and Wales slipped for a third month, dropping 0.3 percent to Â£175,200 ($348,350). âThe second half of the year has seen a major reversal in confidence,â Richard Donnell, director for research at Hometrack, said in a statement. âJust as the financial markets have faced a liquidity squeeze, so the housing market is in danger of facing its own liquidity squeeze.â Prices increased 3 percent from a year earlier, the least in 18 months, Hometrack said.
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HOUSE prices are falling at their fastest rate for nine years, according to one of the country&#39;s most influential property studies.
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Business & money: December sales fall 0.4% despite discounting, as housing demand also points to deepening slump
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Prices of homes sold in December registered the biggest year-over-year decline on record, according to an industry trade group, and 2007 is the first year on record that has seen a drop. A report issued Thursday showed the problems in the housing market have not yet bottomed out.
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Housing starts plunged in January to the slowest pace in more than nine years as the latest government reading on the battered housing market came in much weaker than forecasts.
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New single-family home sales fell  4.7 percent in December to its lowest rate in nearly 13 years  while the median sales price dropped sharply and the inventory  of unsold homes climbed, according to a government report on  Monday that delivered more grim news for the battered housing  sector.
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HOUSE prices have shown their largest decline in four years, according to figures out yesterday. The data came as the Bank of England announced that its interest rates would stay at 4.75 per cent.
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Sales of new homes fell more than expected in July, to their lowest pace since December, as higher mortgage rates cooled the housing market.
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By Malcolm Moore, Economics Correspondent (Filed: 04/12/2004). House prices fell in November for the third time in the past four months and will fall by around 2pc next year, according to the latest figures.
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Confidence in the British property market has plunged to its lowest level in 16 months as investors predict a house price slump of up to 40 percent.
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The number of mortgage approvals for home buying fell again in December, the Bank of England says.
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The average price of houses in England and Wales has fallen by nearly Â£4,000 in five weeks, new figures suggest.
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House prices in Scotland are falling more slowly than elsewhere in the UK, according to research. The Royal Institution of Chartered Surveyors&#39; housing market survey showed UK prices had fallen at their steepest rate for nine years.
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Pending sales of previously owned homes fell a steeper-than-expected 1.5 percent in December, pointing to more dreary conditions for the beleaguered housing market, a real estate trade group report on Thursday showed.
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LONDON (CBS.MW) -- Activity in the UK housing market is continuing to slow, according to data from two major market participants, though a surprise 1 percent rise in house prices in November helped to offset immediate fears of a market crash.
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Pending sales of previously owned  homes fell a steeper-than-expected 1.5 percent in December,  pointing to more dreary conditions for the beleaguered housing  market, a real estate trade group report on Thursday showed.