House Prices Falling in 2011
The most recent data shows that house prices are falling again in the UK.
The latest reported figure is of a drop of 0.8% with the average cost of a home now being £162,215 - for England and Wales at any rate.
This is at 1.7% less than the average price for February 2010 (according to Land Registry information).
In addition to the average house price falling again as has been the case many times recently, there were also less sales of homes, and by quite a large percentage too compared to this time last year.
So overall the figures for the housing market are not what could be called encouraging at the moment: what with sales and purchases down, mortgages being approved down and with the house prices therefore also being down the trend overall could fairly be called a little bit depressing.
So what of the future? Well it is believed that the outlook is not going to get a whole lot better for quite some time to come. Of course opinions vary but it seems most think it will remain flat or even down for the rest of 2011, so this means that for most there won't be any recovery of sorts until at least next year.
More finance news articles:
- House Prices Falling in 2011
- Recent Mortgage Proposed Amendments
- Value Added Current Accounts
- Premier Banking Explained
- Private Banking Explained
House Prices
- House prices in CF33 6
- House prices in TA18 8
- House prices in SN8 4
- House prices in DH4 6
- House prices in CF64 5
