News Categories

• Banking
• Breakdown Cover
• Car Insurance
• Credit Cards
• Home Insurance
• Insurance
• Life Insurance
• Loans
• Money
• Mortgages
• Pensions
• Pet Insurance
• Travel Insurance

News Archive

• May 2012
• April 2012
• March 2012
• February 2012
• January 2012
• December 2011
• November 2011
• October 2011
• September 2011
• August 2011
• July 2011
• June 2011

Newsletter

Houses prices drop in June

By Jonathan Dawes, Tue 29 Jul 2008 - Published in Mortgages

As banks tighten their lending criteria and experts claim 100 per cent loans are virtually impossible to come by, the Land Registry has revealed house prices in England and Wales fell for the tenth consecutive month in June.

A drop of one per cent has seen the cost of an average house fall to £180,781.

London witnessed the biggest decrease, with a 2.5 per cent fall.

The price of an average property in the capital now stands at £345,136.

Elsewhere, the north-east was the only area which managed to buck the trend of falling house prices, with an increase of 4.1 per cent.

The Land Registry also found the number of completed house sales in April dropped to 57,831, a decrease of 39 per cent from 95,223 in April 2007.

Earlier this month, Savills warned sellers who were unprepared to negotiate on the price of their property they could be facing a period of "significant frustration" before being moving house.