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House prices continue to slip

House prices continue to slip (Buying)

by administrator @, Monday, July 25, 2011, 14:50

House prices fell slightly across England and Wales this month, according to data from housing market information company Hometrack.

Prices were down by an average of 0.1 per cent in July compared to the previous month and 3.9 per cent lower compared to July last year.

July was the six consecutive month where prices have dipped slightly or flatlined.

Richard Donnell, director of research at Hometrack, said: ‘The latest survey from Hometrack shows a housing market in broad equilibrium with an increasing number of sales being agreed between more realistic sellers and a growing pool of buyers.

‘Almost four years into the downturn, the housing market is showing signs of adapting to a low turnover environment.’

Prices fell in every area of England and Wales apart from London and East Anglia, which both saw increases of 0.3 per cent. The largest price falls were in the south west of England and Yorkshire and Humberside, which experienced drops of 0.6 per cent and 0.5 per cent respectively.

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