| Industry News |
|
| News » Residential Property Law » Affordability shows new increase as prices fall again |
|
07/05/2009
Affordability shows new increase as prices fall again |
|
House prices fell again in April, according to new figures from Halifax.
The bank revealed that the average home in the UK now costs £154,716, a figure that is 1.7 per cent lower than in March and down 17.7 per cent in a year.
Such a fall represents a slowdown on the 1.9 per cent drop recorded in March, but Halifax chief economist Martin Ellis said the short term should see more price drops rather than rises.
He put this down to factors such as low consumer confidence, restrictions on the availability of credit and high unemployment.
Those keen to take advantage of lower prices may wish to see a solicitor to deal with the legal aspects of buying a house.
Improvements in affordability may be limited unless the government honours its pledge to build three million new homes by 2020, pressure group PricedOut.org.uk has argued.
 |
| |
| Related Articles |
13/01/2010
Residential property prices show new rise
The price of residential property in the UK has continued to increase, according to new figures from the Department for Communities and Local Government (DCLG).
|
06/01/2010
Prime property supply 'set to rise'
The supply of prime properties is set to increase after the general election this year, it has been predicted.
|
04/01/2010
Opportunities to invest in new build properties 'to rise'
Those looking to invest in new build property will get more opportunities to do so in 2010, it has been suggested.
|
31/12/2009
London property investment demonstrates resilience
The residential property sector in London has demonstrated greater resilience compared with other regions over the course of the past 12 months, Land Registry figures have revealed.
|
30/12/2009
Mortgage market competition 'to increase'
Those investing in property will be able to enjoy an easing of finance in the property market in 2010, it has been predicted.
|
News Archive