House price fall slows down
The rate at which house prices have fallen has slowed in the last
quarter, new figures have indicated.
Data from the Department for Communities and Local Government
showed that the average mixed-adjusted house price in Britain was
£217,171 in July.
During the quarter ending in July 2008 the overall drop in house
prices was 0.5 per cent, compared with the 1.3 per cent fall in the
quarter ending in April.
This included a one per cent month-on-month rise in prices between
June and July.
Such findings may suggest that the decline in house prices could be
running out of steam, although there are regional and demographic
Among these are the finding that, unlike the rest of Britain,
Scotland has still seen house prices rise over the past year (up
3.6 per cent).
First-time buyers have been able to enjoy lower prices (1.6 per
cent down), but movers saw prices up 0.1 per cent.
Last week the Financial Times House Price Index stated that the
last year has seen a 2.2 per cent drop in house prices.