Thursday, October 9, 2008
Are house prices now crashing at cruise speed?
Commenting, Martin Ellis, chief economist, said: "House prices declined by 1.3% in September. The overall price decrease in the three months to September was very similar to that in the previous quarter, indicating that the trend rate of decline may be beginning to stabilise. The ongoing pressures on householders' income, combined with the reduction in the availability of mortgage finance, however, mean that market conditions will remain challenging."