House prices fell by an average of 0.2% in March, according to the latest survey from Hometrack, the property information group. Financial Times
The survey follows gloomy data last week from Nationwide, which found that house price inflation had fallen to an annualised 1.7% in March, a 15-year low. Unless the trend reversed, house prices would soon be falling, Nationwide concluded.
The Hometrack survey places house price inflation for March below even that of Nationwide at 0.4% year-on-year. This was the sixth consecutive month in which house price rises slowed, reaching the lowest level since March 2006.
The data suggest London house prices may also come under pressure. The number of new properties listed for sale rose by 8.4%, while new registered buyers were up just 1.9%.