Housing market continues to suffer |
28 2008 |
| House prices fell again in April, highlighting that now is not a good time to invest in the property market. Hometrack has revealed that average house prices fell by 0.6 per cent month-on-month. It was the seventh consecutive month of property price falls and values also fell 0.9 per cent annually. The annual figure was actually positive in March (four per cent), highlighting just what a bad month it has been for the market. The figures may encourage many people that now is a better time to rent rather than buy as prices look set to fall further. "While the availability of finance is impacting on demand in certain segments, the reality is that weak confidence is effectively resulting in a 'buyers strike' with households sitting on the sidelines and waiting to see how events unfold," commented Richard Donnell, director of research at Hometrack.  |
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