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House prices 2008

What does 2008 have in store?

Will house prices fall or rise in 2008? According to the Nationwide, property prices fell for the second consecutive month in December by 0.5 percent.

However, they point out that even with the slight fall, a home was still £8,334 more expensive to buy in December 2007 than in December 2006.

The lender has put together their best buys of 2007 and predictions of the best places to invest in during the next 12 months.

Top 10 biggest earning areas in 2007

Town	Average price	% rise
Montrose, Angus	£172,156	39
Winchester, Hampshire	£399,765	38
Billericay, Essex	£363,265	35
Peterhead, Aberdeenshire	£156, 875	33
Stourbridge, West Midlands	£264,130	31
Ryde, Hampshire	£212, 564	30
Henley, Oxfordshire	£642,672	29
Inverurie, Aberdeensire	£231,623	29
Greenock, Inverclyde	£140,512	29
Southwark, London	£367,306	26

Towns/ cities with biggest rises in 2007

Area	% rise	Price in Q4	Daily rise
Belfast	32	£306,698	£201
Aberdeen	25	£234,041	£130
London	16	£329,007	£125
Oxford	13	£339,404	£110
St Albans	13	£347,563	£112
Reading	12	£256,439	£78
Bristol	12	£240,850	£69
Brighton	11	£307,606	£81
Edinburgh	10	£257,288	£67

Where to buy 2008

Area	Av. price	Current % diff. to regional av.
Lochgelly, Fife	£118,838	-31
Paisley, Renfrewshire	£140,338	-19
Greenock, Inverclyde	£140,512	-19
Aberdeen	£202,755	17
Hackney, London	£361,179	-2
Chatham, Kent	£195,211	-31
Dartford, Kent	£217,279	-24
Liverpool	£155,353	-11
Newport	£146,467	-11