31 Mar

House prices 'fall again'

House prices 'fall again'

Property prices dropped for the sixth month in succession in March, according to new figures published by Hometrack.

Prices fell by 0.2 per cent during the month, it stated, while year-on-year the price of a home rose by 0.4 per cent to stand at £174,100.

However, the level of activity seen in the property market increased during the month, the second rise in a row, it said, with the amount of buyers registering with agents increasing by 1.2 per cent.

Director of research at Hometrack Richard Donnell remarked that prevailing market conditions are definitely having an impact on the housing sector, such as the ongoing credit crunch.

"Continued uncertainty in the financial markets, affordability pressures and weak buyer confidence are all likely to suppress levels of market activity in the months ahead with pricing levels remaining under pressure," he commented.

Moneysupermarket.com claimed that a lack of mortgage products is hindering the current market.ADNFCR-1222-ID-18529807-ADNFCR

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