UK house prices fall 11% in August

House prices in Britain fell by 10.9 per cent in August compared with the corresponding month a year earlier, the biggest drop in 25 years, home loan provider Halifax said in its monthly report.

Halifax, part of British banking group HBOS, said it was the sharpest 12-month drop since the series began in 1983.

O.k., so the Age is stretching the truth with it’s headline, but a 12 month fall in house prices of 10.9% is still significant and the biggest drop in a quarter of a centenary.

» UK house prices fall 11% in August – The Age, 5th September 2008.
» British houses prices slump – The Australian, 5th September 2008.