Monday, December 17, 2007
Our house – in the middle of a slump
House sellers are cutting prices at the fastest rate for five years in a further sign that the property market is set for a serious slowdown. Asking prices have fallen by 3.2 per cent since November, according to data from Rightmove, a website that gathers information on nine out of 10 houses on the market. Forecasters say that while prices may only dip a little, house transactions will drop by 20 per cent This means that the average property has lost £7,590 this month and is valued at £232,396.