Average house price £149,709
Annual percentage change: -16.5%
Quarterly change (seasonally adjusted):-4.2%
Commenting on the figures Fionnuala Earley, Nationwide's Chief Economist, said:
“The first quarter of 2009 saw little improvement in the performance of the housing market across most
of the UK. In the first quarter of the year the average annual rate of house price fall was 16.5%, up
from 14.7% in the final quarter of 2008. There was some moderation in the rate of seasonally adjusted
quarterly fall during the quarter from 4.7% to 4.2%, but given the weakening economic and labour
market background, this is unlikely to be a signal of a very significant change in the direction of house
prices in the short term.
Editors note : - House prices have fallen 20% in one year in East Anglia.
Estate agents in Norwich have noticed a marked upturn in transactions and now there is a shortage of available property.
