House prices are dropping around £120 a day with experts warning that the year ahead looks bleak. Rightmove reported that prices have dropped by a total of nearly 5% since October, including a 0.8% decrease this month. Asking prices have fallen by up to 40% on some properties in recent months, according to website Property Snake, which gives details of asking prices which have been slashed. The price falls are hitting some parts of England more than others, with prices still rising in London and the North. The biggest loser is the East Midlands with prices dropping 6.1% in January alone. It is a cruel blow for anybody who recently stretched themselves to the limit to buy a home.
January 21, 2008
House prices dropping by £120 a day
January 13, 2008
London & the South East – boom predicted
Studies carried out show that most investors regard London and the South East as potential boom areas over the next 12 months. Improved transport links, wealth, foreign buyers, the introduction of Crossrail, the expansion of the east London railway and regeneration across the area will all prove beneficial in the longer-term. The imbalance of supply and demand will also encourage growth for 2008, however these two regions have historically been the top UK property performers, often regardless of the overall national house price trend.
