European ABS Market – A Week In Review By Markit (June 26 – July 3)

June’s Nationwide House Price Index, the first major European ABS market indicator to be released this month, declined 6.3% year-on-year and 0.9% month-on-month, much less than the massive 2.5% decline in May. The London area declined 2.3% year-on-year and Northern Ireland remained the most affected by the housing crisis with an 18.6 % year-on-year decline. Scotland is the only area in the UK where house prices rose.