Friday, October 10, 2008
Which set of statistics can you believe
House prices tumbled for the eight month in a row in September, wiping more than £2,000 from the value of an average home, new figures from the Halifax show. The average property price is now £172,108, down from about £200,000 in September last year. This 13.4 per cent annual fall is the largest decline since Halifax's series began in 1983. Prices in the three months to September were 12.4 per cent lower than in the same period last year, which is another record low. This decline in prices has overtaken the 1990s housing market slump, when the longest run of house price falls was seven months.