Prices down again Nationwide

The Nationwide today reported that house prices have continued the downwards path with a fall of 0.7% in October.

This follows on from the record fall reported by the Halifax for September of 3.6%.

The average price of a house according to the Nationwide is now £164,381 which is still 1.4% above the price last year.

The main brake on house prices appears again to be lack of finance as banks keeps a tight rein on their Loan To Value ratios.

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