House price slide accelerating

Sam Jackson

November 1, 2010

November 13, 2018

House price slide accelerating

House prices have fallen by their biggest margin since January last year, figures show.

Property intelligence group Hometrack reported that values fell by 0.9% in October - the fourth monthly decline in succession. The average home now costs £156,200. Hometrack said that further price falls are "inevitable" for the remainder of the year and into 2011.

The group explained that prices are being put under pressure by a combination of falling demand and rising supply. The figures reveal that price falls were recorded in 56% of postcode districts, with just 0.1% of areas bucking the trend.

The number of new buyers registering with estate agents dropped by 2% during October, while the number of people putting their homes up for sale continued to increase, rising 1.9%.

The supply of homes for sale has now increased by 14% during the past six months, but demand has fallen by 8% during the same period.

Sam Jackson

Money Dashboard

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