House prices are falling faster in Britain than Spain – Telegraph Blogs

House prices are falling faster in Britain than Spain – Telegraph Blogs

House prices at the bottom end of the market are now falling faster in Britain than Spain, according to a comprehensive survey of the biggest house price indices.

But house prices continue to rise at the top end of the market, with an average increase of 3.4pc over the last year among the most expensive fifth of properties. By contrast, the cheapest fifth of properties saw prices fall by 5.1pc over the year, compared to a 1.9pc decline over the same period in Spain.

Estate agents Chesterton Humberts base their analysis on a ‘poll of polls’, using figures from the Communities and Local Government House Price Index; the Land Registry House Price Index; the Halifax House Price Index; the Nationwide House Price Index and other sources including Rightmove.co.uk House Price IndexHome.co.uk Asking Price Index.