House Prices Fall 2.5% In May Alone - 29th May 2008 7:16am
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House prices have recorded their largest monthly fall since 1991, says the Nationwide building society.
Prices have fallen by 2.5% during May, according to its latest monthly survey.
The lender said prices were now 4.4% lower than a year ago, a fall of £8,000 which has taken the average UK house price down to £173,583.
The Nationwide, the UK's second-largest lender, said price falls were now accelerating and had continued for seven months in a row.
Prices have fallen by 2.5% during May, according to its latest monthly survey.
The lender said prices were now 4.4% lower than a year ago, a fall of £8,000 which has taken the average UK house price down to £173,583.
The Nationwide, the UK's second-largest lender, said price falls were now accelerating and had continued for seven months in a row.
Not looking good for people with stupidly over-priced and unrealistic mortgages is it...
BBC News Report
