Nationwide data out today confirms the UK house price crash is unstoppable, data shows prices have plummeted for an 11th consecutive month, dropping by 1.7% in September!
This can both be good news and bad news.
We are now just shy of 13% year on year falls, what does this mean... over the last year the average property has lost more than £20,000, and thats if you are lucky. Nationwide have stated that the rate of fall will stay the same for some time, to quote "pace of house price falls had stabilised", don't be fooled by their use of the word stable, they just mean that downward slope in the graph next to this writing will be a straight line down for some time. At this rate, we will be at 25% falls this time next year... more than likely much much more.
This can both be good news and bad news.