Wednesday, December 1, 2010
"Commenting on the figures Martin Gahbauer, Nationwide's Chief Economist, said: â€œThe recent trend of modestly falling house prices continued during November, with the price of a typical UK property declining by 0.3% on a seasonally adjusted basis between October and November. The three month on three month rate of change â€“ a smoother measure of the recent price trend â€“ rose from -1.5% to -1.3%. This remains well above the deeply negative rates of -5% to -6% that prevailed during the most severe phase of the downturn in 2008. The annual rate of change â€“ which compares house prices to their level 12 months ago â€“ fell from 1.4% to 0.4% and suggests that house prices are essentially unchanged from a year earlier."