House prices 'fell 13.5% in 2008' |
House prices in England and Wales fell by 13.5% in 2008 according to the Land Registry - widely seen as the most authoritative guide to the market. The average house price fell by 2% in December from the previous month to £158,846, the figures based on completed transactions showed. Separately, a survey by mortgage lender Nationwide suggested that house prices across the UK fell by 1.3% in January. Job security worries were set to put people off buying new homes, it said. The Land Registry figures are based on sales completions and so lag behind those supplied by mortgage lenders.
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