House Prices Suffer Sharpest Fall in 12 Years
House prices have fallen by their largest amount in 12 years during this November.Latest figures from Nationwide show that prices fell by 0.8% in November, the largest fall since June 1995, and the first since February this year.
These falls occurred against a backdrop of weakening consumer sentiment, higher interest rates and the turmoil in financial markets.
The annual rate of house price inflation now stands at 6.9%, down from 9.7% reported in October.
The Bank of England has also reported a fall in the number of new mortgage approvals to a near three-year low. 88,000 new mortgages for home buyers were approved in October, 12% lower than in September and down 31% from October a year ago.
With mortgage approvals being a key indicator of near-term activity in the housing market, these figures and those from Nationwide, point to a rapid downturn in the market, according to analysts.
If you are looking to sell your house, but are concerned about the uncertainty in the housing market, give Quick Move Now a call - we can help you sell your home quickly and secure your future. Call us on 0800 068 3366.
1 Comments:
I'm just about to move, and found this site handy for boxes. The prices are very good!
http://www.boxitmoveit.co.uk/
Post a Comment
Links to this post:
Create a Link