Biggest monthly drop in 27 years

In September the house prices fell 3.6%, it is the biggest monthly drop since Halifax started collecting data in 1983. Nevertheless it's not a reason to panic about a huge house price crash. According to Halifax the underlying trend is rather given by the quarterly figures which is only -0.9% for the three months to the end of September. Even this rate of decline is slower than the fall in quarterly changes in the second half of 2008 which was between -5 and -6%, so it's to early to say this fall of 3.6% is the beginning of a long period of declining house prices. (The Guardian)

Thomas Dewulf