Housing gloom deepens as prices plunge 12.7%

House prices fell by 12.7 per cent in the year to August, it emerged today, declining at the fastest rate since 1983. Today's figure is above the 10.5 per cent annual fall recorded by Nationwide last month. Halifax said today that house prices in the three months to August 2008 fell by 10.9 per cent, compared with same period last year, However, comparing August this year with the same month last year shows a... [read full story]