UK house prices continue to slide in June: down 1.2% on 100 Mortgages

UK house prices are still falling as the average price of a house by 1.2% in June. Many thought that house prices would be up again, as in May house prices were up by 1.2 percent, but that was not to be. According to reports from Right Move, the average asking price for a property is now £239,564.

Things are looking up for estate agents, as they recorded a monthly rise in the number of properties they have on their books. Last month properties on their books were just 73, this has increased to 75, although it is not a huge jump it is better than predictions.

Right Move is still predicting that housing transactions will fall to 700,000 by the end of the year; this is down from 1.2 million on last year’s figures. Rightmove.co.uk, commercial director, Miles Shipside, said “n terms of volumes we are predicting they will fall to levels below those seen in the Second World War.” He also added “With the lack of mortgages, if people can’t get money, they can’t buy houses.”

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