December 3, 2007

House price fall £65 per day!

It is being estimated that house prices are dropping at a rate of £65 per day! If this is confirmed as being correct then it would be the fastest rate of fall in twelve years, which is not very promising.

As if that was not bad enough for the market, mortgage approvals have also fallen to only 88,000 in October, the figure that was the lowest before that was in February 2005 when the monthly figure touched 109,000.

Although these figures may initially seem to be going down, the actual figure for property prices for the year are up by £12,000, so all it not lost.

Source [The Mirror]