Personal Finance
House prices down 1.3 percent in April
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Posted 02 May 2008 @ 08:30 am GMT
House prices fell 1.3 percent in April to stand 3.7 percent lower than a year ago, according to data from HBOS which shows a housing market downturn gathering pace.
REUTERS/Toby Melville/Files (BRITAIN)
House prices fall again in FebruaryPrices in the three months to April were 0.9 percent lower than a year ago, the lender's Halifax house price index showed on Friday.
The average house price stood at 189,027 pounds last month, compared with 196,262 pounds in April last year, and has now fallen for three months in a row.
The figures will add to concerns that the housing market could weaken sharply this year as lenders toughen up their mortgage terms and the economy slows.
Last month, Halifax reported house prices falling 2.5 percent on the year, the fastest monthly rate of decline since 1992.
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