UK
Ireland
Scotland
London
A recent survey by a UK housing intelligence business has revealed that house prices have fallen for the seventh month in a row.
The Hometrack survey highlights how the average cost of a house in England and Wales is 2.2% lower than January last year. The average price now stands at £153,600.
As uncertainty remains over 2011 interest rates, both buyers and sellers are avoiding the market.
Estate agents have experienced a 10% decrease in those registering, accounting for a 26% drop in demand in the last six months.
Meanwhile new home sales have experienced the sharpest fall in four years, reaching 5.4%.
Mortgage approvals were also down 10% from last year.
Currently, the number of first-time buyers with a mortgage stands at less than half compared to the figures between 2000 and 2005.
(BMcN/GK)
