27 Apr

House price fall 'losing momentum'

House price fall 'losing momentum'

A new survey has shown that the rate at which house prices are falling has slowed down.

March statistics from Hometrack revealed a price drop of 0.3 per cent, compared with 0.6 per cent in March.

The annual rate of price fall also declined, from 10.3 per cent to 10.1 per cent.

Such figures may provide an indication that the market is bottoming out, a situation which could make the near future a good time to invest.

Hometrack also noted a 15 per cent rise in transactions in April, although director of the firm Richard Donnell said that a "real" recovery will only be established when more first-time buyers are re-entering the market.

A number of recent indicators have provided possible evidence that the property sector is starting to emerge from its slump.

HM Revenue & Customs revealed last week that the total number of home sales in March for houses worth over £40,000 was 43 per cent higher than in February.

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