DCLG: House prices down 0.1% in October

| December 14, 2010 | 0 Comments

Official data from the Department for Communities and Local Government (DCLG) today revealed UK house prices fell by 0.1% in October compared with September, with the average UK home costing £209,466.

In the meantime, on an annual basis, house prices are just 5.5% higher, down from the 6.1% annual rise in September.

The figures come on the same day the Royal Institution of Chartered Surveyors (Rics) revealed the ongoing lack of buyers and economic uncertainty continues to impact negatively on the housing market.

There continues to be a high number of unsold properties on the market as buyer demand continues to weaken.

Buyers have adopted a “wait and see” approach as uncertainty continues to surround the economy and the Government’s spending cuts make prospective buyers cautious.

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