Nationwide says average house price is down 30k

[Bagpuss]

Oct. 30 (Bloomberg) -- U.K. house prices dropped by the most in at least 17 years in October as banks tightened their grip on credit and the prospect of a recession deterred potential buyers, Nationwide Building Society said.

The average cost of a home fell 14.6 percent from a year earlier to 158,872 pounds ($261,000), the largest decline since the survey started in 1991, the Swindon, England-based mortgage lender said in an e-mailed statement today. Prices slid 1.4 percent from September



CyberTory's house is up though so panic over!

[Crusoe101]

Swindon, Who are they exactly.....

How many mortgages do they have on thier book.... 2

[Cyberman]

That's certainly rubbish as far as my area is concerned. A neighbour sold for 324,000 pounds in September, and they had been after that same price for a year.

[expat]

Swindon, Who are they exactly.....

How many mortgages do they have on thier book.... 2

"the Swindon, England-based mortgage lender" i.e. Nationwide, based in Swindon, England.

Quite a few.

[AtW]

Pound dropped almost 20% against dollar, so from this point of view UK house prices dropped big time even without face value dropping 15-20%. Problem is that UK is not exactly Spain or Florida, the main foreigners who come here to buy houses are probably those who want safe heaven for their capitals as no questions asked in this country so long as you've got lots of money. Those people however do not buy average houses.

[sasguru]

Pound dropped almost 20% against dollar, so from this point of view UK house prices dropped big time even without face value dropping 15-20%. Problem is that UK is not exactly Spain or Florida, the main foreigners who come here to buy houses are probably those who want safe heaven for their capitals as no questions asked in this country so long as you've got lots of money. Those people however do not buy average houses.

Pieces of eight! Pieces of eight! Sqawk!

[Pondlife]

Pieces of eight! Pieces of eight! Sqawk!

I think there's some mileage in this one.

[DiscoStu]

Pieces of eight! Pieces of eight! Sqawk!

[Bagpuss]

That's certainly rubbish as far as my area is concerned. A neighbour sold for 324,000 pounds in September, and they had been after that same price for a year.

Is his mortgage with Northern Rock?