Lamport Bassitt Solicitors - Legal News - House prices fall, Halifax data shows


	LATEST LATEST LEGAL NEWS ARCHIVE		LATEST NEWS & EVENTS House prices fall, Halifax data shows Residential property conveyancing professionals saw house prices drop by 0.7 per cent over the last three months in comparison with the previous quarter, according to the latest Halifax House Price Index. The average house price currently stands at £164,173 - a positive monthly change of 0.8 per cent, although 2.4 per cent lower than the average seen in January 2010. Martin Ellis, housing economist at Halifax, said: "On a positive note, there have been further signs that the recent downward trend in prices is causing homeowners to be more reluctant to put their properties on the market." He went on to say that this development will help to relieve downward pressure on house prices for as long as it is sustained. Recently, London Central Portfolio said the percentage of people using cash to buy properties in central London has risen recently, as a result of difficulties in securing mortgage finance. Posted by Gaby Hamerton Related Articles: 30/3/2012 - EPC changes to affect buy-to-let landlords 27/3/2012 - Rent increases drive strong buy-to-let yields 27/3/2012 - Property industry welcomes 'sensible' planning reforms 2/3/2012 - Arla advises landlords to 'invest wisely' 1/3/2012 - Basel III could hit commercial property lending More Property Law News