18 Apr

Average house prices fall by £1k

Average house prices fall by £1k

The average house price in the UK has dropped by £1,000 since the start of 2017, according to new data.

Zoopla revealed there was a 0.4 per cent fall since January across the country - equivalent to £11.15 a day.

However, the drop in prices has varied across different regions reveals the figures. In Wales, prices rose by 0.4 per cent, but the South West say a 0.6 per cent decline in prices.

The start of the year is usually a traditionally quiet period for property buying, but the market tends to pick up as summer approaches.

“The softening in values and continued low mortgage rates are positive news for first-time buyers trying to get on to the property ladder,” said Zoopla’s Lawrence Hall.

“These prospective homeowners will be pleased to see a decrease in overall property values as seemingly unstoppable growth has pushed many areas out of reach in the past year.

“It’s also encouraging to see the resilience of the Welsh property market which in the past has often lagged behind England and Scotland.”ADNFCR-1222-ID-801834769-ADNFCR

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