Annual House Prices Fall by 11.5%
The Dept for Communities & Local Government (DCLG) has just released figures to show that house prices are continuing to fall, with prices in January 2009 down 11.5% on the previous January. This shows that prices fell faster in Janaury than they did in December when they were down 10.2% annually.The figures do however show prices have not fallen by as much as the main mortgage companies' surverys have suggested.
The DCLG commented that the lack of mortgage funding for first-time buyers is having a distinct effect in driving down prices.
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