UK Money News
11th July 2008
House prices down for fourth straight month
House prices fell for a fourth month in a row during June, according to the latest monthly study from the Financial Times (FT).
The FT's survey, which was carried out by research group Acadametrics, found that the price of a home fell by 0.6 per cent during the month - the most marked monthly fall since February 2005.
As a result the rate of annual house price growth fell from 2.6 per cent to 1.2 per cent, which the lowest level recorded since 1996.
However, this is still considerably more positive than the annual declines of 6.1 per and 6.3 per cent which were recorded in recent surveys from the Halifax and Nationwide.
Dr Peter Williams, chairman of Acadametrics, said: "The FT index, like the Land Registry and CLG indices, is based upon sales transactions and it is the only index that is based upon all property transactions in England and Wales.
"As such it is bound to diverge from the mortgage based indices published by Nationwide BS and HBOS which have been reporting more dramatic declines based on their own data."
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