House prices falling in June |
23 2008 |
| New research from a leading online property portal has suggested that house prices in the UK have fallen again during June. Rightmove.co.uk measured the asking prices of 154,806 properties and found that the average decreased by 1.2 per cent, with annual growth up by just 0.1 per cent. In addition, the study also revealed that there are now over a million unsold properties on the UK market as people increasingly turn to renting as a more cost-effective way of living. Each estate agent now has an average of 75 unsold properties on its books, compared to 73 in May - double the figure recorded at the equivalent point in 2007. Year-on-year prices have also taken a knock as buyer confidence continues to plummet in the current climate, with increases across the country now standing at just 0.1 per cent. The worst-hit areas are the east Midlands, where prices are down 3.5 per cent in the last year, and the West Midlands and north-west regions, which have seen falls of three per cent.  |
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