Thursday, January 29, 2009
Nationwide latest (part 2)
The slump in house prices continued in January with prices falling by 1.3%, according to the Nationwide, the UK's largest building society. The mortgage lender said the rate of price falls had eased slightly when compared with December's 2.5% slide. But the fall took the annual rate of decline in house prices to 16.6%, from a 15.9% in December. Amid rising unemployment, job security worries were likely to be putting people off buying a new home, it said. The average house now costs £150,501, down from £153,048 a month ago and £35,543 below the peak of October 2007.