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UK House Prices Fell Most in 18 Months in September, Says Hometrack
Written by article default Monday, 27 September 2010 12:23
UK House Prices fell 0.4 percent in September according to a survey from property market researcher Hometrack Ltd, marking the third consecutive decline and the largest one in 18 months. In a statement accompanying the release, Hometrack’s research director Richard Donnell chalked up recent weakness to “growing concerns over the economic outlook and public-spending cuts,” adding that current trends are likely to persist “well into 2011”. However, Donnell added that the pace of price declines is likely to be contained as falling demand is coupled with a moderation in the volume of new supply coming to the market.Click here to learn more about DailyFX.