{"id":757,"date":"2015-08-23T00:00:00","date_gmt":"2015-08-23T00:00:00","guid":{"rendered":"https:\/\/www.thehouseshop.com\/property-blog\/bad-news-for-homeowners-as-house-prices-fall-again\/"},"modified":"2016-09-08T14:07:12","modified_gmt":"2016-09-08T14:07:12","slug":"bad-news-for-homeowners-as-house-prices-fall-again","status":"publish","type":"post","link":"https:\/\/www.thehouseshop.com\/property-blog\/bad-news-for-homeowners-as-house-prices-fall-again\/","title":{"rendered":"Bad news for homeowners as house prices fall again"},"content":{"rendered":"\n<!-- SEO Ultimate Plus (https:\/\/seoultimateplus.com) - Code Inserter module -->\n<script async>(function(s,u,m,o,j,v){j=u.createElement(m);v=u.getElementsByTagName(m)[0];j.async=1;j.src=o;j.dataset.sumoSiteId='b68b392479b5981b8acf46565e9fe32a0734fc21a1f7c1e60121eaa6ca1a1c64';v.parentNode.insertBefore(j,v)})(window,document,'script','\/\/load.sumo.com\/');<\/script>\n<!-- \/SEO Ultimate Plus -->\n\n<div> \t<span style=\"font-family: Verdana; color: black; font-size: 10pt\"><img loading=\"lazy\" alt=\"\" border=\"0\" height=\"225\" src=\"\/uploads\/media\/house market bubble.jpg\" width=\"300\" \/><\/p>\n<p> \t<a c79a750effb78ca=\"true\" href=\"http:\/\/www.thelittlehousecompany.co.uk\/house-prices.htm\">Property prices<\/a>&nbsp;in the UK fell in August for a second consecutive month prompting fears of increasing weakness in the housing market.&nbsp;The figures from the Nationwide building society show that prices fell by 0.9 per cent last month, the first time values have fallen in consecutive months since February 2009.<\/span><\/div>\n<p> \t<strong><span style=\"font-family: Verdana; color: black; font-size: 10pt\">Stagnation<\/span><\/strong><\/p>\n<p style=\"text-align: justify; line-height: 115%; margin: 0cm 0cm 10pt\"> \t<span style=\"line-height: 115%; font-family: Verdana; color: black; font-size: 10pt\">Martin Gahbauer, Nationwide&#8217;s chief economist, said: &#8220;The three-month rate of change fell from 1.2% in July to 0% in August, suggesting that house prices have essentially stagnated over the summer.<\/span><\/p>\n<p style=\"text-align: justify; line-height: 115%; margin: 0cm 0cm 10pt\"> \t<span style=\"line-height: 115%; font-family: Verdana; color: black; font-size: 10pt\">&#8220;Unless house prices bounce back strongly in September the three month rate of change will turn negative next month.&#8221;<\/span><\/p>\n<p> \t<strong><span style=\"font-family: Verdana; color: black; font-size: 10pt\">Mortgage lending also falling<\/span><\/strong><\/p>\n<p> \t<span style=\"font-family: Verdana; color: black; font-size: 10pt\">Bank of England figures support the suggestion that the housing market is in trouble.&nbsp;July\u2019s mortgage lending figures showed the second lowest month of mortgage lending since records began in 1993 with just 48,722 mortgages approved for house purchases.&nbsp;Lending by mutuals continued to be negative, meaning they are lending less than their borrowers are paying back.<\/span><\/p>\n<p> \t<strong><span style=\"font-family: Verdana; color: black; font-size: 10pt\">Prospects look gloomy<\/span><\/strong><\/p>\n<p style=\"text-align: justify; line-height: 115%; margin: 0cm 0cm 10pt\"> \t<span style=\"line-height: 115%; font-family: Verdana; color: black; font-size: 10pt\">Some experts are now predicting that property prices at the end of 2011 will be 10 per cent lower than the levels they were this summer.&nbsp;Howard Archer of&nbsp;IHS Global Insight told <\/span><span style=\"line-height: 115%; font-family: Verdana; color: black; font-size: 10pt\"><em>The Guardian<\/em>, &#8220;The recent overall tone of&nbsp;<a c79a750effb78ca=\"true\" href=\"http:\/\/www.thelittlehousecompany.co.uk\/news\/uk-housing-market-news.htm\">housing market<\/a> data and surveys has been consistently downbeat. We currently expect house prices to fall by 3% over the second half of the year, but there is a now a very real likelihood that the drop will be nearer 5%.<\/span><\/p>\n<p style=\"text-align: justify; line-height: 115%; margin: 0cm 0cm 10pt\"> \t<span style=\"line-height: 115%; font-family: Verdana; color: black; font-size: 10pt\">&#8220;It is hard at this stage to be optimistic about house prices in 2011 as the fiscal squeeze will increasingly kick in, which will hit people&#8217;s pockets and lead to serious job losses in the public sector. Consequently, a further drop of around 5% in house prices looks highly possible in 2011, and the drop could well be steeper still.&#8221;<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Property prices&nbsp;in the UK fell in August for a second consecutive month prompting fears of increasing weakness in the housing market.&nbsp;The figures from the Nationwide building society show that prices fell by 0.9 per cent last month, the first time<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/bad-news-for-homeowners-as-house-prices-fall-again\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wl_entities_gutenberg":"","_lmt_disableupdate":"","_lmt_disable":"","spay_email":""},"categories":[16],"tags":[],"wl_entity_type":[602],"modified_by":null,"_wl_alt_label":[],"jetpack_featured_media_url":"","wl:entity_url":"http:\/\/data.wordlift.io\/wl0502\/post\/bad_news_for_homeowners_as_house_prices_fall_again","_links":{"self":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/757"}],"collection":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/comments?post=757"}],"version-history":[{"count":2,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/757\/revisions"}],"predecessor-version":[{"id":1726,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/757\/revisions\/1726"}],"wp:attachment":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media?parent=757"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/categories?post=757"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/tags?post=757"},{"taxonomy":"wl_entity_type","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/wl_entity_type?post=757"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}