House prices down nearly all over the UK |
09 2008 |
| New research released today (June 9th) has suggested that house prices were down in 11 of the 12 UK regions during May. Chesterton estate agents conducted a comprehensive poll which showed that prices across England and Wales dropped by an average of 0.7 per cent last month. With the survey also suggesting that average year-on-year price growth has declined to 1.3 per cent, the problem looks set to worsen before any improvement occurs. Douglas McWilliams, chief executive of the Centre for Economics and Business Research (CEBR), which carried out the research, said: "Lending remains restricted and is causing the housing market to weaken considerably: 11 out of 12 UK regions showed month on month house price falls in May." The Chesterton data only revealed a rise in one region, the East Midlands, but even that increase was by a paltry 0.1 per cent, while the average price of a residential property is now said to be £193,183. These latest figures give further credence to those who are seeking to rent amidst the current uncertain financial climate as they attempt to save the pennies wherever possible.  |
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