UK Money News
21st April 2008
Asking prices fell 0.1% in March
The asking prices for UK properties were down by 0.1 per cent during March, a new study has shown.
This fall brought the average asking price down from £239,655 to £239,521, according to the latest research from property portal Rightmove.co.uk.
March's decline in asking prices comes after a fall of 0.8 per cent was recorded during February.
As a result of the latest decline the annual average rate of house price inflation fell to 1.3 per cent - the lowest recorded since July 2005.
Commenting on the figures, Miles Shipside, commercial director at the site, said that the figures make conditions more favourable for buyers but added that lenders' imposing stringent lending criteria means that only those with cash behind them are well placed to capitalise.
He remarked: "Buyers who have saved through the winter and are now emerging to enter the spring market will find there are deals to be had.
"It’s a buyers' market, but only if that buyer is buying for cash or can put down a good deposit."
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