House prices ‘unchanged’ during August
Posted on 29 August 2007
House prices remained static in England and Wales during August, according to figures released on Monday.
Housing intelligence company Hometrack says that the month saw the lowest rate of house price growth for 20 months, with just 9.3% of the surveyed postcode districts seeing an increase in prices. London was the only region to post an overall increase, though at just 0.1% this was far below March’s leap of 1.8%.
The results mark the fifth consecutive period of slower month-on-month house price growth, which Hometrack says is evidence of “a more deep-rooted slowdown resulting from increased affordability pressures and more cautious buyers.”
The survey also notes that sale prices fell further in relation to asking prices, with sellers on average achieving only 94.9% of their advertised price.
Last week, Rightmove’s house price index recorded the first fall in London asking prices for a year.
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