Wednesday, 6 April 2011

House prices edge up in March but trend remains down - Telegraph

House prices edge up in March but trend remains down - Telegraph

Prices in March were 2.9pc lower than a year ago - the biggest annual decline since October 2009 - and in the first three months of 2011 were 0.6pc lower than in the previous three months, the Halifax said in its latest house price index.

"House prices continue to fall at a modest pace," said Martin Ellis, housing economist at the Halifax.

He forecast a 2pc decrease in house prices in 2011 as uncertainty over the general economic outlook and household finances constrains housing demand.

The average price of a home in March was £162,912.

House sales show signs of stabilising but at a low level.

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