{"id":139000,"date":"2023-09-01T13:52:17","date_gmt":"2023-09-01T06:52:17","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uk-house-prices-fall-at-fastest-rate-since-2009-rail-strikes-begin-across-england-business-live\/"},"modified":"2023-09-01T14:08:47","modified_gmt":"2023-09-01T07:08:47","slug":"uk-house-prices-fall-at-fastest-rate-since-2009-rail-strikes-begin-across-england-business-live","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uk-house-prices-fall-at-fastest-rate-since-2009-rail-strikes-begin-across-england-business-live\/","title":{"rendered":"UK house prices fall at fastest rate since 2009; rail strikes begin across England \u2013 business live"},"content":{"rendered":"


\nLive, rolling coverage of business, economics and financial markets as home prices drop by 5.3% from peak last yearGood morning, and welcome to our live coverage of business, economics, and financial markets.UK house prices fell by 5.3% from their peak in August 2022 to this year, the fastest decline since 2009 when the financial crisis caused the housing market to seize up, according to new data from Nationwide.The large monthly fall in house prices in August confirmed that the further leg down in house prices that we have been forecasting has begun to materialise. With mortgage rates likely to remain around current levels for another 12 months, we expect prices to continue to fall until mid-2024, taking the total drop in house prices since their August 2022 peak from 5.3% now to 10.5%.In particular, unemployment is expected to remain low (below 5%) and the vast majority of existing borrowers should be able to weather the impact of higher borrowing costs, given the high proportion on fixed rates, and where affordability testing should ensure that those needing to refinance can afford the higher payments.While activity is likely to remain subdued in the near term, healthy rates of nominal income growth, together with modestly lower house prices, should help to improve housing affordability over time, especially if mortgage rates moderate once Bank Rate peaks. Continue reading…
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\nSource : theguardian.com
\nRead more…UK house prices fall at fastest rate since 2009; rail strikes begin across England \u2013 business live<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Live, rolling coverage of business, economics and financial markets as home prices drop by 5.3%...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-139000","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-A9W","jetpack-related-posts":[{"id":139002,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uk-house-prices-fall-at-fastest-rate-since-2009-says-nationwide\/","url_meta":{"origin":139000,"position":0},"title":"UK house prices fall at fastest rate since 2009, says Nationwide","date":"September 1, 2023","format":false,"excerpt":"\r August 5.3% drop comes as sales completions down by about 40% in first half of year compared with 2021Business live \u2013 latest updatesUK house prices fell 5.3% in August compared with the same month last year, the fastest annual drop in 14 years, according to Nationwide Building Society.The lender\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":139406,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uk-house-prices-drop-5-3-with-falls-in-every-region-says-nationwide\/","url_meta":{"origin":139000,"position":1},"title":"UK house prices drop 5.3% with falls in every region, says Nationwide","date":"October 2, 2023","format":false,"excerpt":"\r High interest rates blamed for year-on-year fall with price of average home \u00a314,500 lower than September 2022.UK house prices fell by 5.3% in the year to September, with drops in price in every region of the country as rising interest rates squeeze the market.The house price index by Nationwide,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":84378,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-home-prices-rise-fastest-in-almost-eight-years-in-the-first-quarter\/","url_meta":{"origin":139000,"position":2},"title":"Singapore home prices rise fastest in almost eight years in the first quarter","date":"April 2, 2018","format":false,"excerpt":"\r Singapore\u2019s private home prices rose 3.1 per cent in the first quarter, the fastest quarterly growth in nearly eight years, in a further sign of a nascent recovery in the city state\u2019s housing market. The pace of growth was the quickest since the second quarter of 2010 when home\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":23607,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kongs-luxury-market-will-fall-but-how-much\/","url_meta":{"origin":139000,"position":3},"title":"Hong Kong\u2019s luxury market will fall, but how much?","date":"August 22, 2016","format":false,"excerpt":"\r From The Peak to Island South, a gradual downward slope in luxury home prices is to be expected in Hong Kong View from Jardine\u2019s Lookout. Luxury home values slightly declined in the neighbourhood in July, according to Knight Frank. Image credit: Rat007 \/ Shutterstock.com Luxury property values in Hong\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":109091,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/london-house-prices-fall-at-fastest-rate-in-10-years\/","url_meta":{"origin":139000,"position":4},"title":"London house prices fall at fastest rate in 10 years","date":"July 17, 2019","format":false,"excerpt":"\r It is the biggest plunge since the 7.0% annual drop recorded in August 2009, says ONSHouse prices in London have fallen at their fastest pace since the financial crash a decade ago as the capital bears the brunt of the nationwide torpor in the property market.Amid a dearth of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":164798,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chinas-housing-slide-deepens-as-october-prices-fall-at-fastest-pace-in-a-year\/","url_meta":{"origin":139000,"position":5},"title":"China\u2019s housing slide deepens as October prices fall at fastest pace in a year","date":"November 14, 2025","format":false,"excerpt":"\r The decline in China\u2019s home prices is accelerating, with new home prices in October \u2013 traditionally a peak month for sales \u2013 falling at the fastest pace in 12 months across the country despite government support, as the economy slows and job prospects remain uncertain. New home prices fell\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/139000"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=139000"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/139000\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=139000"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=139000"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=139000"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}