Posted by
James Mace at 16:46 on 27 Feb 2008
House prices fell for the fifth month in a row during February but there were signs demand is beginning to increase on the back of lower interest rates, figures show...
The average cost of a home in England and Wales fell by 0.2% during the month to £174,400, according to property information group Hometrack. At the same time the annual rate of house price inflation continued its downward trend to stand at just 1.4%, its lowest level since April 2006.
Richard Donnell, director of research at Hometrack, said: “Despite the continued weakness in underlying prices.