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Nationwide Forecasts a New Decline in UK House Prices

Nationwide Forecasts a New Decline in UK House Prices - UK - House Prices - Analysis


According to the latest house prices report published by Nationwide, British house prices in October 2009 outperformed those in October 2008, thus marking the first year-on-year rise in 19 months.



Nationwide estimated that an average UK house was priced at £162,038 in October 2009, which figure represents a 2% rise on the house prices level for October 2008. However, it has been noted that the pace at which house prices have been rising in the previous months slowed down to 0.4%, which means that soon UK property values might start declining again.

In the opinion of Nationwide property specialists, the decreased pace of house price rises might well be caused by the growing number of homesellers returning to the British property market.

Let us remind, that experts explained the recent increases in house prices mainly by restricted supply of marketed properties and by high demand from potential buyers.

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