News Index - House Prices Fall

October 2005

Supply of homes has once again outstripped demand, sending prices falling for the 16th consecutive month according to the Hometrack survey.

The survey of the nations housing market showed that house prices fell by a further 0.1 per cent contributing to an overall price drop of around 3.5 per cent in the past 12 months. In June 2001 the national average property price was in the region of £167,700 and it now stands at £160,700.

Across the country only Lancashire has seen its prices rise, 24 counties have remained static and a total of 32 have seen their prices drop. The counties currently witnessing the worst drops are; Wiltshire, West Midlands, South Yorkshire and Nottinghamshire. Of the major cities only liverpool and Leeds have seen rises with 37 others remaining static and and in 15 costs have dropped.

The mount of buyers registering with estate agents has increased by 2.1 per cent in October a rise in total this year of more than 22 per cent.