UK Money News
28th April 2008
House prices down 0.6% in April
House prices in England and Wales fell by 0.6 per cent during April, new data shows.
The decline brought the average price of a property to £173,100, according to research from house price information group Hometrack
April was the seventh month in a row during which the value of a home has fallen and means that the value of a property is now 0.9 per cent less than it was in April 2007.
The study also noted in the prices being received by sellers who accepted on average 92.7 per cent of their asking prices.
Meanwhile, the average time it took to sell a property increased from six weeks to nine weeks.
Richard Donnell, director of research at the company, said: "Weak confidence is effectively resulting in a 'buyers' strike', with households waiting to see how events unfold.
"As we predicted last year, transaction volumes will be the big casualty.
"There now seems the prospect of a record low in residential sales volumes in 2008."
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