House price fall slows - Mortgages - News - Moneyfacts


House price fall slows

House price fall slows

Category: Mortgages

Updated: 30/04/2009
First Published: 30/04/2009

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 It is now over 6 months old so the content may be out of date.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 rate of decline in house prices looks to be on the wane, as latest figures from the Land Registry show a decrease of 0.4 per cent in March.

It shows an improvement on price performance in February when there was a two per cent fall. The average house price in the UK is now £152,895.

Prices in London showed a slight increase of 0.6 per cent - the first monthly rise in the capital since March last year. The average property value in the city is now £299,613.

Homeowners in the North East have also been given reason to cheer with the news that the value of homes in the region went up by an average of 1.8 per cent last month.

Meanwhile, the Nationwide's monthly house price index has revealed house prices took a further hit in April, declining by 0.4 per cent.

Simon Rubinsohn, chief economist at the Royal Institute of Chartered Surveyors, said that while house prices may drop further, the sales to stock ratio has begun to climb, indicating the prices may begin to stabilise later in the year.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

The time is now for remortgaging

Mortgage borrowers have been urged to review their existing deals after it was revealed that remortgage opportunities continue to flourish in the post-Brexit vote world.

Goodbye to the Help to Buy Guarantee

On 31 December, phase two of the Help to Buy initiative will be withdrawn from the market. It’s certainly done wonders for the high loan-to-value sector, so we thought we’d take a closer look at the significance of the scheme and the effect it’s had.

Remortgaging bounces back

Remortgaging has been enjoying a welcome boost in recent months, despite September’s slight dip, with many homeowners capitalising on record low mortgage rates to boost their finances.