House prices fall 0.6% - Has the bad credit mortgages debacle taken hold.

The UK’s property market is showing signs of struggling in the wake of the bad credit mortgages results a 0.6% drop in house prices in September as 100% mortgages lender Northern Rock crisis took hold.

The fall represents the biggest fall since last December and has pulled annual house price inflation down to 10.7%, its lowest level since May, according to Halifax, the UK’s Britain’s largest mortgage lender. Effects of the bad credit mortgages debacle.

100% mortgages lender Northern Rock crisis has dented confidence along with the bad credit mortgages effect from the USA.

Overall house prices defied the gloomy predictions of some recent headlines, but their underlying growth is still on a decelerating trend 

But will the 100% mortgages lender Northern Rock affair tip that market into a full-blown price crash?