House prices fell in August
Fri 29th Aug, 09:38:29 BST
House prices have continued their decline, dropping by 1.9 per cent in August, according Nationwide.
They have plummeted by 10.5 per cent over the last twelve months, making the annual fall enter double digits for the first time since 1990.
An average home is now valued at £164,654 by the high street mortgage broker.
Commenting on its latest Monthly House Price Index, Nationwide said: "Recent activity levels in the housing market have been very subdued."
However, the bank added: "Estate agents'' data across all property types is a little more optimistic and suggests that there may be some glimmers of interest returning to the market."
According to the mortgage broker, estate agents have seen an increase in the number of new buyer enquiries. It said this was caused by recent falling prices and the possibility of being able to negotiate on price.
Trevor Carr, director of estate agents John Francis, told thisisswansea.co.uk that there is an under supply of housing in the UK and when banks start lending again house prices will rise.
Carry out a house price search.
They have plummeted by 10.5 per cent over the last twelve months, making the annual fall enter double digits for the first time since 1990.
An average home is now valued at £164,654 by the high street mortgage broker.
Commenting on its latest Monthly House Price Index, Nationwide said: "Recent activity levels in the housing market have been very subdued."
However, the bank added: "Estate agents'' data across all property types is a little more optimistic and suggests that there may be some glimmers of interest returning to the market."
According to the mortgage broker, estate agents have seen an increase in the number of new buyer enquiries. It said this was caused by recent falling prices and the possibility of being able to negotiate on price.
Trevor Carr, director of estate agents John Francis, told thisisswansea.co.uk that there is an under supply of housing in the UK and when banks start lending again house prices will rise.
Carry out a house price search.
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