Wednesday, January 16, 2008

House prices (UK) fall at fastest rate since '92

House prices fall at fastest rate since '92

LONDON (Reuters) - House prices fell in December at their fastest rate since the recession of the early 1990s, a survey showed on Wednesday, raising fears the country's once buoyant housing market is heading for a sharp downturn. The Royal Institution of Chartered Surveyors' house price balance fell to -49.1 in December, its lowest since November 1992, from -40.6 in November.

REUTERS

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