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House price decline slows

House price decline slows

Category: Mortgages

Updated: 27/01/2010
First Published: 30/03/2009

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

The pace at which house prices are falling across Britain is slowing, latest figures show.

Prices across England and Wales fell by 0.6 per cent in March compared with a 0.8 per cent decline the previous month, and a one per cent drop in January, according to Hometrack

Estate agent's optimism for the future has grown further as the proportion of the asking price being achieved rose for the first time in two years and the number of sales agreed jumped 19 per cent.

"While market conditions remain extremely tough and the economic outlook is far from rosy, the net result is that agents are currently marking down prices less aggressively than they were in the autumn when the turmoil in world markets was at its peak," said Hometrack's director of research, Richard Donnell.

It is another small but welcome boost for the housing market and follows the news that mortgage approvals in the UK hit almost 38,000 in February - a nine month high.

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