According to a recently released report house price falls in the UK are coming at a faster pace than the hour price falls during the crash of the 1990s. November saw the property market go through a sharp and rapid deterioration, with data from the Halifax suggesting that house prices had fallen by over 2.5 percent over the month. This took the annual house price fall for November to over 16 percent based on these Halifax figures, wiping over £30,000 from the value of the average property on an annual basis. (more…)

Over the past year the UK has seen its property prices plummet month on month, with prices now having fallen by far more than many had originally predicted and with further house price falls expected over the coming year by many industry experts. Many sellers have either had to accept lower offers for their properties or have been unable to sell, although the situation for buyers has also been difficult due to the difficulties that many have had in security mortgages despite the decrease in property values. (more…)

According to a recent report homeowners that are looking to sell their properties are being forced to slash their asking prices in order to secure any hope of selling their property in the current financial climate. Fears over negative equity due to falling property prices, coupled with difficulties in obtaining affordable mortgages, has left many people unable or unwilling to purchase properties, and sellers are having to reduce the asking price by way of incentive to encourage people to buy. (more…)

A recent report has suggested that the house price falls that are currently being experienced in the UK are actually worse than those seen in the 1990s. In fact, the data suggests that in the past twelve months the average UK home has lost more in value than the whole of the period in the early 1990s when the last property price crash occurred. Since September of last year over £26,000 has been wiped off the value of the average property, and this reflects a price fall of around 13.3%. (more…)

According to a recent report house prices have fallen again in September, with officials from the Halifax claiming that prices have dropped by around 1.3% for the month. The Halifax has stated that the September fall means that the annual price drop now registers at 12.4%, and the average house price has now fallen to £172,108. The Halifax stated that mortgage lending conditions were still very tight, and this meant that the state of the market was likely to remain difficult. (more…)

A recent report has suggested that it could take seven years or longer for a recovery in house prices to be seen in the UK. Researchers have said that it could take until around 2016 for house prices to reach the same level as they did last year when they peaked before starting to plummet. This is bad news for those that have purchased properties recently, and are therefore facing negative equity as a result of falling house prices. This is where the homeowners ends up owing more on their property than the property is actually worth. (more…)

According to recent reports house prices in the UK have continued their downward spiral for the month of June, with a number of leading mortgage lenders and banks publishing figures that make for gloomy reading. One of the latest lenders to release house prices figures for June was the Halifax, which confirmed that house prices had fallen for yet another month in June, although the drop in values was not as large as the 2.5% that was seen in May. (more…)

A recent report has suggested that house prices in the UK could fall by around one third by 2010, which would mean that within a couple of years many homeowners could see thousands of pounds wiped off the value of their homes. Officials from Deloitte recently released the report indicating that house prices could nosedive in the UK, and an official from the group said: ‘We now expect UK house prices to fall by about a third by the end of 2010 with severe adverse effects on household spending and investment.’ (more…)

Over recent months consumers and industry officials have seen the value of properties in the UK falling over recent months, and many reports from different agencies have shown the level of falls in house prices. More recently, a report has been released that predicts the house price slump in the UK could last around four years. Officials stated in the report that it could take around four years for property prices in the UK to exceed the peak that was seen in 2007. These predictions were made by the Society of Business Economics, and around two thirds of the 225 members of the society thought that a recovery in house prices could take four years. (more…)

Earlier this year it was reported that the Council of Mortgage Lenders had changed earlier predictions relating to house price movement for this year. In the latter quarter of last year officials from the CML had predicted that house prices would rise by around 1% over the course of 2008. However, just a few months into the year the CML changed its prediction, and based on figures showing that property prices were already falling predicted that property values would fall by around 7% over the course of the year. (more…)

Following the recent report from the Nationwide indicating that house prices had fallen by 2.5% and had wiped thousands of pounds off property values, many industry officials have expressed their opinions on what will happen with house prices now. Some industry groups, such as the Council of Mortgage Lenders, have revised previous prediction with regards to how far house prices are likely to fall this year, with the CML changing its prediction from a 1% gain over the year to a 7% fall. (more…)