Hometrack states that property prices went down across all regions in the last month, other than the West Midlands where house prices remained steady.
Growth in annual house prices declined to 4.4%, rendering the value of the average home to £176,100.
Land Registry data figures for September highlight a 0.4% growth in house prices.
Such a decline in the housing market over October may continue. Given several months of undermined buyer confidence, decreasing levels of demand as well as decreasing sales volumes, property market prices are of course affected.
There are likely to be further slight price decreases in future months. These increases ought to remain limited as there appears to be no evidence of any increase in the supply of homes for sale.
Presently, there appears to be an uncertainty which has led to a decline in the property coming onto the market, thus supporting underlying prices of coming months.
Decreases in property prices have particularly come from the top end of the market.
Your Move, the estate agent , reports a 1.2% increase in agreed sale prices in September.
Your Move says that the shortage of housing entering the market means that the market is kept buoyant.
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House Prices Down Marginally
Mon, 29 Oct 2007
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