British house prices slide in October: survey

28th October 2010, Comments 0 comments

British home prices fell 0.7 percent in October from the previous month, as buyers continued to shun the property market, a key survey by home-loans provider Nationwide showed on Thursday.

"October saw a continuation of the modest downward trend in house prices that began at the start of the summer," Nationwide's chief economist Martin Gahbauer said in a statement.

House prices were flat in September, but fell by 0.9 percent in August and by 0.5 percent in July, according to Nationwide.

The average value of a home in Britain stood at 164,381 pounds (187,661 euros, 259,304 dollars) in October, it added.

© 2010 AFP

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