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UK house prices fall by 1.7% in first quarter of 2008 - Nationwide

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  • UK house prices fall by 1.7% in first quarter of 2008 - Nationwide

    "The annual rate of house price growth slowed dramatically in every part of the UK in the first quarter of 2008, bringing the average rate in the UK down to less than a third of the rate at the end of 2007. The annual rate of house price growth in the first quarter of 2008 was 2.2%, down from 6.9% at the end of 2007. House prices slowed most sharply in Northern Ireland where the annual rate fell from 24.2% to -3.4%, but this still leaves average prices more than £15,000 higher than at the end of 2006." - Fionnuala Earley, Nationwide's Chief Economist.


    UK fact file

    * Average house price: £179,363
    * Annual percentage change: 2.2%
    * Quarterly change (seasonally adjusted): -1.7%
    * Most expensive region: London
    * Least expensive region: North
    * Region with strongest annual price growth: Scotland
    * Region with weakest annual price growth: Northern Ireland

    Clerkenwell Property | London Property
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