| Industry News |
|
| News » Residential Property Law » House prices down again |
|
30/03/2009
House prices down again |
|
The cost of residential property dropped by 10.3 per cent in the year to March, a new survey has said.
Hometrack figures for the month indicated that house prices were down by 0.6 per cent in February.
Although this represented a further reduction in house prices, the figure was less than 0.8 per cent recorded in February and the one per cent dip in January.
Sales were also up by 19 per cent last month, suggesting that buyer interest may be translating into more homes being bought and sold as affordability improves.
Director of research at the company Richard Donnell said property values are likely to continue dropping in the coming months, stating: "Prices look set to remain under downward pressure over the rest of 2009."
Those keen to take advantage of the lower costs may wish to take legal advice on their housing purchases.
Last week, figures from the Land Registry showed that the average UK house prices in England and Wales dropped by 16.5 per cent in the year to February 2009.
 |
| |
| 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