April 30 (Bloomberg) — U.K. house prices fell in April from a year earlier, the first annual decline since 1996, after the credit squeeze dried up finance for property purchases, Nationwide Building Society said.
The price of an average home dropped 1 percent to 178,555 pounds ($352,000), said Britain’s fourth-biggest mortgage lender. Its index is one [...]

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The extent of sub-prime lending in Britain could be a lot worse than is commonly assumed because a large number of homeowners have more than one loan secured on their property, according to the property research group UKValuation.
As a result, true loan-to-value (LTV) ratios are often higher than is usually thought, which, in turn, could [...]

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This is Money

Property slowdown: even London feels pinch
This is Money, UK - 5 hours ago
The trend has even affected prime properties in central London. Sales of expensive homes from January to March were down by around 20% on last year’s …
London hit by property slowdown Home Move

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