House prices in UK fall for 10th straight month

House prices in the UK fell for a 10th straight month this month to stand 4.4 per cent lower on the year, a survey by property consultants Hometrack showed yesterday. That was the biggest annual fall since the survey began in 2001. Prices were 1.2 per...

House prices in the UK fell for a 10th straight month this month to stand 4.4 per cent lower on the year, a survey by property consultants Hometrack showed yesterday.

That was the biggest annual fall since the survey began in 2001. Prices were 1.2 per cent lower on the month.

"Indicators of market activity across the housing market remain weak with the survey highlighting a 20 per cent drop in demand over the last three months," said Richard Donnell, Hometrack's director of research.

The survey also showed properties were on average taking 11 weeks to sell, up from 6.5 weeks in June last year.

The proportion of the asking price being achieved fell to 90.9 per cent from 91.6 per cent, the lowest level since the survey began.

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