UK House Prices Largest Decline since 1995

Crunch, crunch, pop, pop........ No wonder the Bank of England Extends Lending to Relieve `Tight' Money Market . The numbers of loans approved for house purchase are also showing signs of "strss".....For more insight visit the label or the excellent blog from Alice The UK Housing Bubble .

Crunch, crunch, pop pop......Kein Wunder das die Bank of England ernuet "creativ" werden muß Die Anzahl der genehmighten Hypotheken befindet sich wenig überraschend im freien Fall Für mehr zum Thema UK bitte das Label durchforsten oder dem wunderbaren Blog von Alice The UK Housing Bubble einen Besuch abstatten

FT More dismal news for UK homeowners. House prices fell 0.8 per cent in November, according to Nationwide - reining in the annual rate of growth to 6.9 per cent.

That drop is the first since February 2006 - and is the largest decline logged since the summer of 1995.

The figures reverse the unexpectedly strong performance in October - when prices rose 1.1 per cent - but which was widely seen as an aberration in what is a markedly weakening trend for house price data. That’s born out in the three-monthly growth numbers that in the latest period fell back to 1.5 per cent, from 1.8 per cent the month before.

The figures come on the back of dark predictions made through the medium of new derivatives contracts, through which the City is betting on house prices falling 7 per cent next year. The deterioration in outlook reflected in derivs trading, which showed expectations shifting from a 2 per cent fall to a 7 per cent decline in the space of one month, demonstrates how quickly sentiment can shift.