31
Mar
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.