Monday 9 May 2011

House prices fall at fastest rate in 18 months - Telegraph

House prices fall at fastest rate in 18 months - Telegraph

The average cost of a home dropped 1.4pc during the month to stand at £160,395, the lowest level since July 2009, according to the latest Halifax house price index.

The latest slide led to property values being 3.7pc lower during the three months to the end of April than during the same three months of the previous year - the biggest annual decline since October 2009.

Halifax blamed the slide on weak consumer confidence in the face of economic uncertainty, which it said was constraining demand, putting downward pressure on prices.

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