Land Registry Tells of "Flat Market"
House prices fell for the first time in four months last month as the traditionally quiet summer took some heat out of the market, official figures showed today.The Land Registry said the data for the month showed a "fairly flat market" with prices down 0.1% on July's figures. The drop followed a 1.8% rise in July and reduced the average price of a home in England and Wales in £155,968.
But the annual rate at which house prices are falling continued to slow, easing to 9.4% – the lowest figure since last September and down from a high of 16.3% in February.
These figures give weight to the idea that there may not be a steady growth curve out of the recession, but may be a series of peaks and troughs, resulting in an eventual good economic climate.
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