July 23, 2008
Average UK house price falls
The UK average house price has fallen this month on the same time last year. This is the first time that something like this has happened in the UK property for a number of years. The property marketing company Rightmove Plc started keeping records in 2002 and this is the first time since their record started.
The average price of a house in the UK now stands at £235,219, but it has been estimated by researchers who have been using the same system as the Bank of England that property prices could fall by about ten per cent in 2008 and another six per cent during 2009.
It is not all bad news though, with property values dropping, this means that there are many opportunities for first time buyers to get onto the property ladder, providing that they are able to get their finances in order. This will in turn restart the rise in property prices eventually.
Source [Hot Property]
Add to Bookmarks:
Related stories to Average UK house price falls
Next: Woman escapes repossession by suicide »
Visited 100 times, 1 so far today
Comments
Leave a Reply