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The Masked Tulip

House Prices Fall For The Eighth Consecutive Month

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Experts predict prices will continue to fall as fewer people are getting loans and many are falling behind repayments

It is a rehash of the DCLG information.


Nicholas Ayre of property search agent Home Fusion, said: "The 1.4% decline in January does seem indicative of the direction house prices will go during 2011, namely down. At best, the market will remain flat this year, at worst it is heading for further falls, especially in areas where unemployment is rising sharply.

"In the property market, the negatives outweigh the positives and in some areas, especially those overly reliant on public sector jobs, there are very few positives. Supply has slowed in recent weeks, easing the pressure on prices, but this could change rapidly when interest rates rise. This week's unemployment data will also have a bearing on consumer confidence and therefore the demand for property.

Howard Archer, chief UK and European economist at IHS Global Insight, said the figures were "fully consistent" with his view that house prices will continue to trend down in 2011 after losing ground overall in the latter months of 2010. "Specifically, we suspect that house prices will fall by around 5% in 2011 and end up losing around 10% from the peak levels seen in the first half of 2010," he said.

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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