Sunday, February 24, 2008
Hometrack -0.2% in Feb, +1.4%YoY
House prices have fallen for the fifth consecutive month. The average price in England and Wales has dropped to £174,400, nearly £ 2,000 lower than it was in the autumn. Hometrack said prices fell by 0.2% in Feb, taking the annual rate of house price inflation to just 1.4% The 8% rise in February in the number of new buyers registering with agents was well down on the 25% increases recorded in the same month in the previous two years. The average length of time on the market was 8 weeks, the longest since Hometrack records began in 2001.