House price slump ‘moderates’
The rate of house price falls moderated in November, according to statistics released by mortgage lender Nationwide.
House prices lost 0.4 per cent in value during November, compared to the 1.3 per cent fall in October, the building society revealed.
In comments that might interest potential borrowers of mortgages for professionals, Nationwide chief economist Fionnuala Earley said: "In spite of the moderation in house prices recorded in November, with the economy in recession, conditions do not appear very favourable for a swift recovery in the housing market."
The annual rate of house prices sees a typical property down 13.9 per cent in value compared to November last year, but this was down from the 14.6 per cent difference recorded last month.
An average property now stands at £158,442, having fallen some £25,000 in the last 12 months - which could provide bargain opportunities for professionals looking to purchase a new home.
Meanwhile, Abbey has today announced a 0.45 per cent cut across its five-year fixed-rate mortgage portfolio.
Mortgages for Professionals provides expert mortgage advice for high earning professionals on over 30,000 mortgage types.
House prices lost 0.4 per cent in value during November, compared to the 1.3 per cent fall in October, the building society revealed.
In comments that might interest potential borrowers of mortgages for professionals, Nationwide chief economist Fionnuala Earley said: "In spite of the moderation in house prices recorded in November, with the economy in recession, conditions do not appear very favourable for a swift recovery in the housing market."
The annual rate of house prices sees a typical property down 13.9 per cent in value compared to November last year, but this was down from the 14.6 per cent difference recorded last month.
An average property now stands at £158,442, having fallen some £25,000 in the last 12 months - which could provide bargain opportunities for professionals looking to purchase a new home.
Meanwhile, Abbey has today announced a 0.45 per cent cut across its five-year fixed-rate mortgage portfolio.
Mortgages for Professionals provides expert mortgage advice for high earning professionals on over 30,000 mortgage types.
