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House prices fall in August



04 September 2008 @ 09:55 am BST

London - House prices fell 1.8 percent in August to stand 12.7 percent lower than a year ago, the sharpest annual fall since records began 25 years ago, the country's biggest mortgage lender HBOS said on Thursday.


Houses
People are seen walking past estate agent signs outside a row of houses, in south London in this May 18, 2007 file photograph. House prices fell 1.8 percent in August to stand 12.7 percent lower than a year ago, the sharpest annual fall since records began 25 years ago, the country's biggest mortgage lender HBOS said on Thursday. Photograph taken May 18, 2007 REUTERS/Toby Melville/Files
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The seventh straight monthly fall wiped off more than 25,000 pounds from the value of the average home since the peak last year, taking it to 174,178 pounds.

Prices in the three months to August were 10.9 percent lower than a year ago.

(Editing by Ruth Pitchford)

© 2010 Thomson Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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