Actually Alex they are down 6.1% on where they were a year ago in 2007 which was still a rising market.
Monthly % drops in UK average house prices pubished by the Halifax building society (it excludes all repo'd properties sold at auction).
Jan 0
Feb -0.4
Mar -2.5
Apr -1.3
May -2.5
Jun -2.5
Jul -2
Since New Years Day 2008 they are down 11.2%. The worst slump in recorded UK house price history...
We are in a full speed crash which is accelerating and has well over a year to run. The media is still asking whether the 'dip' will continue but then the same media was saying a crash for 2008 was 'highly unlikely'.
Given that August and Sept are still to come and were rising in 2007 even if house prices now miraculously flatline there will still be year on year falls to come.
WWW
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