House prices down 13.7% from peak

Prices fell 1.3% during September, according to Britain’s biggest mortgage lender, but the Halifax says the rate of decline is beginning to stabilise. The average price of a home was £172,108 in September, down 13.3% from £198,533 recorded a year ago. The Halifax index peaked at £199,612 in August last year. Over the past three months, prices have declined by 5.2%, similar to the 5.1% decline seen in the previous quarter. “The overall price decrease in the three months to September was very similar to that in the previous quarter, indicating that the trend rate of decline may be beginnin...