Latest data out today here showing another monthly fall of 1.5% with an annual fall of 10.1% now.
The graphs on page 12 show the full horror of house sales after a decade of Gordon Brown's debt binge.
To be honest this data is expected to show negative growth now as the data lags the Halifax and Nationwide data by between 3-6 months.
This data series will still be showing monthly falls 3 months or more after the Halifax starts publishing rising monthly prices again. that is not expected until Q4 2009.
1 year to go.
Tuesday 2 December 2008
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UK house prices will continue dropping for far longer than a year in cash and real terms. In real terms, they will bottom out in about 5 years' time. In cash terms, it'll probably be in 3 years' time, but that could vary depending on the level of hyperinflation we get from 2010.
The cash price fall will be about 46% on average over the UK, about 55% in London and the South East.
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