Real Estate News and Tips

House prices down for fifth month with buyers holding off

ThisIsLondon.co.uk |

In Brief...

House prices have fallen for the fifth month in a row as demand dropped at its fastest pace for nearly two years, research showed today.. The average cost of a home in England and Wales fell by 0.8% this month to ?155,000, following a 0.9% slide in October, according to property intelligence group Hometrack.. The number of sellers putting their home on the market also fell by 0.4% during November, the first drop for nine months, while the level of sales agreed remained broadly unchanged.. Hometrack said property values were likely to remain under pressure in the near-term, but the tightening in supply should help limit price falls to just 2% by the end of next year.. Richard Donnell, director of research at Hometrack, said:

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