The rate of growth in London has fallen, says Hometrack
Halifax
Graph: House Prices: Most Affordable Areas
Enlarge House prices have fallen for the first time in seven months as fewer people look to buy while more people look to sell, according to a study.
The gap between supply and demand is expected to widen after the surprisingly early and quick summer slowdown, meaning prices are likely to fall further in the coming months into autumn, property analyst Hometrack said.Prices fell by 0.1% in July after being flat last month, with activity slowing down notably in London and the South East, which have been supporting the market and keeping average prices up.
Meanwhile, price falls in the northern regions, which have been bigger than those in the South, could be "bottoming out", the study suggested.
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