Wednesday, December 24, 2008

27% Drop to Date

House Prices to Fall by 10% in 2009

The article reports by BAA the actual average loan for a house purcahse during 2007 and November 2008, see below, which suggest a drop of 27% in price to date and not the numbers being reported by other sources. This is the most reliable figure I have seen so far In November, the average loan for a house purchase was £116,700 - a drop of almost £12,000 since October and well below the average of £159,600 last June, when the market was near its peak.

Posted by karim maidan @ 10:29 AM (801 views)
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2 thoughts on “27% Drop to Date

  • You are forgetting that the lenders are requiring bigger deposits than they used to. Once you add the larger deposit to the amount they lent, you will probably get the figures that are being quoted elsewhere.

    The larger deposits are one of the reasons why house prices have fallen.

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  • Funny how iI have not seen such falls in Devon ???

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