Residential property prices in the UK rise slightly by 0.8 percent in January but the common trend is downwards, as per the recent index from the Halifax.
The Halifax adds,” Rates in the 3 months to January were 0.7% lesser than in the previous 3 months and this continues the small fall on this measure since last spring. The speed at which rates are falling, however, remains noticeably lower than during the 2nd half of year 2008 when periodical declines of 5% to 6% were recorded”.
On an yearly basis, rates in January were 2.4 percent lower as measured by the average for the latest 3 months against the same period a year before and there are lesser properties coming onto the market for sale.
A report from the newest Royal Institution of Chartered Surveyors survey showed a decline in new seller directions for the 3rd successive month in December. A continuance of this propensity would assist to decrease the imbalance between demand and supply and sustain house prices, the report points out.
The report also shows that there was a small rise in housing market activity in year 2010. The number of home sales in the UK rose by 4% from 846,000 in year 2009 to 884,000 in year 2010, as per to the latest HMRC figures.
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