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Latest News
<< Most Recent Articles
Property prices 'falling across England and Wales'
Month-on-month house prices are continuing to fall across the UK, according to recent reports.
The House Price Poll was compiled by the Centre for Economics and Business Research (CEBR) in cooperation with the property consultancy Chesterton.
It found that 87 of the 170 local authorities in the UK reported a decrease in average house prices in April, with properties in the East Midlands and Wales being particularly affected.
The poll concluded that properties in the bottom 20 per cent of the market fell by a further 0.2 per cent over the course of the month.
Robert Bartlett, chief executive officer of Chesterton, commented: "Higher priced mortgage products and greater caution from the banks is now having a negative effect on house prices. This scenario is likely to remain whilst banks repair their balance sheets and until interest rates drop significantly."
Chesterton runs its monthly House Price Poll of Polls in order to analyse the leading monthly indices that affect house prices and offers a comprehensive look at the UK housing market. It compiles its data in cooperation with numerous organisations including the CEBR, Halifax and Nationwide.
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© Adfero Ltd
08/05/2008 10:30:52
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