Wednesday, July 13, 2011

House prices fall by 1.6% last year

House prices fall by 1.6% over the last year

Category: Mortgages
Date: 12/07/2011

Real estate prices are around 1.6% last year sunk official government figures show.

Department for communities and local government data show that the average value of a house in the United Kingdom by 0.5% in may, to only £ 203,500 declined.

The average price in the UK in may but was without the London and South East England, £ 168,381, a decline of 2.6% in the last 12 months.

There were large differences between losses in England, Wales, Scotland and Northern Ireland.

Northern Irish House and apartment owners will want the trends of the last year, forgetting how decreased the average properties of the country by 13.2% up to £ 144,463.

In Wales, property up to £ 140,399 fell in the value of an average of 6.1%, while a house in Scotland for an average price of £ 160,359 has fallen (2.5%).

England saw the least significant fall through in the House prices - helped elastic South East and London - with the average home covered by 1.3% in value.

It means that at the end of may, a buyer in England may have been expecting, buy a House for £ 211,243.

Not surprisingly, is London of the English region, where a House is at least affordable. Looking for a buyer to a pad in the capital secure faces an average price of just over £ 334,500, with prices in advance in popular and central locations.

In fact, London the only place in the entire United was recorded an annual increase of prices (1.0%).

The Northeast has the lowest average price in the UK, £ 132,107, strengthening the North South gap in prices.

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