UK Money News

29th July 2008
House prices down 1% in June
House prices fell by one per cent during June, as conditions in the housing market continued to worsen.
According to the Land Registry, which surveys the price of every home sold in England and Wales for its reports, the annual rate of house price growth has now dropped to 0.1 per cent.
This represents the tenth month in a row in which prices have fallen year on year and brought the average price of a home down to £180,781.
Semi-detached homes were worst hit by faltering demand, falling by 0.6 per cent on an annualised basis to stand at an average of £169,296.
Meanwhile, terraced homes and detached properties recorded price increases of 0.1 per cent and 0.8 per cent respectively.
Perhaps surprisingly, given the oversupply of the property type, prices for flats remained stable.
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