The average house price in England and Wales fell by 0.2 percent in December compared to November, while the number of transactions dropped five percent – 33 percent down on December 2009. That’s according to the latest LSL Property Services house price index.
This monthly fall, the third in a row, brings the average house price to £222,827, down £9,000 or 3.9 percent from the February 2008 peak of £231,828.
Annual house price growth dropped to 2.9 percent in December from 5.1 percent in November 2010. LSL Property Services said the rate of growth will slow as the larger gains of last year drop out of the calculations.
It also highlights widening regional disparities, with traditionally high-value areas such as London and the south-east displaying stronger than the national average house price growth.
LSL put a positive slant on the figures, saying that despite average house prices falling, the steady rate of the decline indicated resilience in the market.
There are currently plenty of would-be buyers available to take on mortgage products where they are offered, and for those with a large amount of spare cash the current market still represents a good opportunity to invest in affordable property, it added.
0 comments:
Post a Comment