UK Home Prices Plunged Record 3.6% in September
October 7th, 2010Via: Bloomberg:
U.K. house prices plunged in September by the most since at least 1983, adding to evidence that the housing market faces a renewed slump as the government readies the biggest spending cuts since World War II.
The average cost of a home fell 3.6 percent from August to 162,096 pounds ($258,000), Halifax said in an e-mailed statement today. That’s the biggest drop since the mortgage lending division of Lloyds Banking Group Plc began its housing gauge in 1983. Property values were 0.7 percent lower than the same month a year earlier.
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