UK House Prices Fall by 3.3% in April – Hometrack

UK House Prices Fall by 3.3% in April – Hometrack

According to a report published today, on May 2nd by Hometrack, UK-based property intelligence group, house prices reached £153,100 in April.

This represents a 3.3% decrease compared to April 2010. Let us remind that in March the annual decline was similar, at 3.2%.

As for month-on-month changes, there were none. UK house prices remained the same in April as they were in March and this marked the first month in nine that did not see a fall.

It is also important to note that Hometrack saw a rise in the volume of sales (+8%). The figures varied from region to region.

The proportion of properties purchased at the asking price or better fell from 94% in April 2010 to 92.6% in April 2011. Mr. Donnell of Hometrack explained this by saying that "while agents are still achieving sales, pricing levels are starting to come under pressure as would-be purchasers are presented with increased choice as supply grows." Indeed, the number of properties that entered the market last month was bigger than the amount of buyers registered with estate agents.