Property Prices Fall In January
Published / Last Updated on 01/02/2012
Property Prices Fall In January.
The housing market saw property prices fall by 0.2% in January. This fall took the annual rate of inflation down from 1% to 0.6%, bringing the average house price down to £162,228.
Robert Gardner, Nationwide’s chief economist expects prices to continue moving sideways in the months ahead.
According to Howard Archer, chief UK and European economist at Global Insight, some people are still finding it hard to get a mortgage and bank's could tighten lending further this year, due to the weakening economy and difficult wholesale funding conditions.