House Prices Down 10% on 1 Year Ago
Latest figures from the Land Registry confirm the figures we've seen from the mortgage lenders and estate agents, with prices falling 10.1% year on year to October.Prices in October fell by 1.5% compared with September, the 14th consecutive monthly fall.
The average house price is now at levels last seen in the summer of 2006 at £165,529. Flats showed the biggest fall in prices. As we know, transaction levels have also fallen, with LandRegistry figures confirming an average of 54,488 transactions per month, compared with 118,165 a year ago.
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